GTBank stocks loss further dips market by 0.4 per cent

Trading at the Nigerian Stock Exchange further bows to the bears, on Monday, as the All-Share Index (ASI) close lower by 0.4 per cent to 41,564.31 basis points.

The Nigerian equities opened the week in red, as a sell-down in Guaranty Trust Bank, 8.8 per cent descent, extended last week’s bearish trading for the seventh consecutive session.

Consequently, Month-to-Date (MtD) loss increased to two per cent, while the Year-to-Date (YtD) gain moderated to 3.2 per cent.

Market sentiment, as measured by market breadth, was however positive, as 20 tickers gained, relative to 16 losers.
On the performance chart, UPD Credit and Multiverse topped the gainers’ list having appreciated by 9.2 per cent and 8.3 per cent respectively, while Champion Breweries and PZ recorded the largest losses of the day after depreciating by 9.8 per cent and 9.7 per cent respectively.

The sectoral performance was broadly negative, following declines across the Banking, Insurance, and Consumer Goods indices by 2.7 per cent, 0.8 per cent and 0.3 per cent respectively. The Industrial Goods index was the lone gainer by 0.1 per cent, while the Oil & Gas index closed flat.

Activities at the local bourse were unimpressive as the total volume of trades declined by 29.4 per cent to 340.28 million units, valued at N2.64 billion, and exchanged in 5,251 deals.

Union Bank of Nigeria shares was the toast of investors as it was the most traded stock by volume and value at 78.81 million units and N457.06 million, respectively.

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GTBank stocks loss further dips market by 0.4 per cent

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