EQUITIES trading at the Nigerian Exchange Limited (NGX) on Monday was bearish, starting the month of August in the red region amidst low turnover.
Despite impressive second quarter results submitted to the local bourse, sentiments remained dark as the All Share Index (ASI) dipped by 83 basis points (bps) to settle at 49,950.12bps as against its previous close of 50,370.25bps.
This outing pegged both the month-to-date and year-to-date performance of the ASI at -0.83 per cent and 16.93 per cent, respectively.
Equities investors therefore shed N227 billion from their net worth as the market capitalisation followed the direction of the ASI to stand at N26.936 trillion, representing a 0.84 per cent drop from the N27.163 trillion it stood at the end of the previous trading session.
Bulls’ camp maintained dominance over the market breadth with 21 counters in the gainers’ chart pitted against 14 counters in the losers’ chart.
On the performance board, Caverton and Courtville gained 10.00 per cent apiece to become the best performing stocks in the session, flanked by Champion Breweries, Unity Bank and Livestock as they populated the top five gainers’ chart.
From the rear of the chart, BUA Cement, McNicholas, Neimeth Pharmaceutical, International Breweries and May and Baker populated the top five losers’ chart.
Key sectoral indices closed in mixed direction as the ASI, with the NGX Growth sector gaining 4.97 per cent, NGX Industry sector losing 4.18 per cent, while NGX Oil & Gas and NGX ASEM sectors closed flat.
Market activity as measured by volume of trades waned in the session, with daily traded volume stood at 176.054 million units, representing 30.90 per cent downtick from a volume of 254.773 million units traded in the previous session.
Value of traded stocks also dipped by 19.21 per cent in the session to stand at N2.271 billion as against a value of N2.811 billion recorded in the previous trading session.
Guaranty Trust Holding Company (GTCO) dominated the volume charts as the top traded stock by volume for the trading session, followed by Zenith Bank, Access Bank Holdings, FBN Holdings 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, Zenith Bank took the lead of the top five performers. It is flanked by GTCO, MTN Nigeria, FBN Holdings and Access Corporation.
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