Local stock market extends bears to week

At the Nigerian Exchange Limited (NGX), on Monday, bears maintain grip as the market extends previous bearish outing into the first trading session of the week amidst selloff pressures.

The All Share Index (ASI) dipped further by 0.38 per cent to pegI at 42,008.60 basis points, bringing the month-to-date and year-to-date outings of the All-Share Index to stand at -2.87 per cent and 4.32 per cent respectively.
Investors, therefore, lost N83 billion at the end of trading activities on Monday as the equities market capitalization settled at N21.920 trillion.

Market breadth closed in favour of the bears with 24 counters in the losers’ chart pitted against 10 counters in the gainers’ chart.

Royal Exchange was the best performing stock in the session, as it is flanked by UPDC, CHI Plc, Meyer, and Champion Breweries to complete the list of the top five gainers.

From the rear of the chart, WAPCO sheds the most weight to lead the laggards’ chart, flanked by Linkage Assurance, ABC Transport, Vitafoam and Fidelity to complete the top losers’ chart.

All sectoral indices closed in the same direction with the ASI, save for NGXGROWTH and NGXASEM closed flat.
Market activity as measured by both volume and value gained weight in the session with daily traded volume standing at 422 million units, representing a 133.31 per cent increase from a volume of 181 million units traded in the previous session.

The value of traded stocks inched up by 84.34 per cent in the session to stand at N4.471 billion as against a value of N2.425 billion recorded in the previous trading session.

FBN Holdings dominated the volume charts as the top traded stock by volume for the trading session. This is followed by Sterling Bank, Guaranty Trust Holding Company (GTCO), United Capital and United Bank for Africa to complete the list of the five most traded stocks by volume.

With regards to the value of traded stocks, FBN Holdings took the lead of the top five performers as well. It is flanked by GTCO, Zenith Bank, United Capital and lastly WAPCO.

YOU SHOULD NOT MISS THESE HEADLINES FROM NIGERIAN TRIBUNE

FALSE! Yoruba Not An Official Language In Brazil

Claim: A national newspaper and multiple online platforms claim Brazil has adopted Yoruba as its official language and that the language would be included in primary and secondary schools curriculum.

Verdict: The claim is false. The content of the article published by these online platforms is not new; it has been recirculated several times and has been debunked.Local stock market extends bears to week

Local stock market extends bears to week