Equities trading goes bearish marginally by 0.02%

October 25, 2023

points, marking a moderate 0.02 per cent decline in the All Share Index (ASI).

Accordingly, the Month-to-Date and Year-to-Date returns moderated to +1.2 per cent and +31.1 per cent, respectively.

With the reversal of the previous day’s gain, equities investors lost N6.38 billion cumulatively as the market capitalization settled lower to close at N36.92 trillion on Wednesday.

However, as measured by market breadth, market sentiment was positive, as 22 tickers gained relative to 18 losers. On the performance board, Multiverse and Chams recorded the highest gains of the day after their respective share prices increased by 9.7 per cent, while eTranzact and Sunu Assurance topped the losers’ list, having recorded respective 10.0 per cent decline in share value.

Furthermore, sectoral performance was bearish as all five sectors under our purview declined, with the NGX Banking, NGX Insurance, NGX Consumer Goods, NGX Oil & Gas and NGX Industrial Goods recording losses of 1.09 percent, 0.62 percent, 0.16 percent, 0.24 percent, and 0.10 percent, respectively.

Market activity witnessed a varied trend, with substantial decreases in both the total number of deals and value. As such, total deals fell by 4.37 percent, totaling 5,998 trades, while the total value of trades for the day nosedived by 30.32 percent to N4.41 billion.

However, trading volume surged by 3.05 percent to reach 329.66 million units. Fidelity Bank emerged as the most actively traded stock of the day, with 50.32 million shares worth N411.73 million changing hands in 200 deals.

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