The local equities market reverses the previous day’s gain as investors took profits off Nigerian Breweries, Access Bank and Zenith Bank stocks.
Consequently, the All-Share Index (ASI) of the Nigerian Stock Exchange declined by 0.3 per cent to 40,095.49 basis points, with the Month-to-Date and Year-to-Date losses increasing to -5.5 per cent and -0.4 per cent, respectively.
Investors lost N65.8 billion as the market’s worth closed at N20.98 trillion as against an opening mark of N21.04 trillion.
As measured by market breadth, market sentiment also closed negative, as 23 tickers declined, relative to 14 gainers.
On the performance chart, Lasaco Insurance, Fidson Pharmaceutical topped the losers’ list with 9.7 per cent and 8.4 per cent respectively, while Chams and Royal Exchange recorded the largest gains of the day having appreciated by 9.1 per cent and 8.0 per cent respectively.
Performance across sectors was broadly negative, as three out of our five coverage indices closed red. Specifically, Banking, Consumer Goods, and Oil & Gas depreciated by 1.4 per cent, 0.8 per cent and 0.2 per cent respectively, while the Insurance index was the lone gainer of the day by 0.2 per cent, while the Industrial Goods index closed flat.
The activity was unimpressive at the local bourse on Thursday as the total volume traded declined by 30.6 per cent to 326.04 million units, valued at N3.71 billion, and exchanged in 4,567 deals.
Transnational Corporation was the most traded stock by volume at 48.44 million units, while Zenith Bank was the most traded stock by value at N637.59 million.
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Last week (February 14 to 20), 5,849 new cases were reported in the country, the lowest in seven weeks.
The last time Nigeria recorded such a low figure was in the December 27 to January 2 week, when it reported 5,681 cases…Equities market relapses after two-day gains, lose N65.8bn
Equities market relapses after two-day gains, lose N65.8bn