Local stock market begins weak weaker by 0.3 per cent

The Nigerian equities market started the week’s trading negatively, sell pressure on small and medium capitalised stocks weighed the overall performance.

The All Share Index (ASI) of the Nigerian Exchange Limited (NGX) settled at 38,545.30 basis points having declined by 0.27 per cent on Monday.

Equities investment reduced by N54 billion as the market capitalisation recorded at the end of the day’s trading activities was N20.09 trillion.

Specifically, sell pressure on small and medium cap transnational Incorporations, Oando and FCMB Holdings lowered their respective share prices by 9.80 per cent, 9.33 per cent, 0.96 per cent, 1.68 per cent and 1.25 per cent.

Accordingly, Month-to-Date gain moderated to +0.3 per cent, while Year-to-Date loss increased to -4.3 per cent.

As measured by market breadth, market sentiment was positive, as 18 tickers gained relative to 16 losers.

On the chart, Meyer and Champion Breweries topped the gainers’ list with respective 8.8 per cent and 6.1 per cent, while Fidson and Lasaco Insurance recorded the most significant losses of the day by 9.8 per cent and 9.3 per cent respectively.

Analyses by sectors indicated weak performance as three out of the five indices tracked closed southwards. Industrial Goods, Insurance and Oil & Gas indices declined by 1.2 per cent, 1.1 per cent and 0.1 per cent respectively, while the Banking and Consumer Goods indices recorded gains by 0.1 per cent.

The total volume of trades decreased by 5.2 per cent to 209.21 million units, valued at N1.76 billion, and exchanged in 3,390 deals.

Access Bank was the most traded stock by volume at 22.72 million units, while Zenith Bank was the most traded stock by value at N384.58 million.

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CLAIM 1: A Twitter user claims UNICEF said any efforts to block children from accessing pornography might infringe their human rights.

VERDICT: MISLEADING!

CLAIM 2:  A website report shared by the Twitter user claims UNICEF said pornography is not always harmful to children.

VERDICT: MISLEADING! UNICEF in its report explained that though there are different kinds of risks and harms that have been linked to children’s exposure to pornography but there is ‘no consensus’ on the ‘degree’ to which pornography is harmful to children.Local stock market begins weak weaker by 0.3 per cent

Local stock market begins weak weaker by 0.3 per cent