The Nigerian Equities Market extended its negative outing for the third trading session of the week to start the month of September with bears.
Precisely, the All-Share Index (ASI) of the Nigerian Exchange Limited (NGX) settled lower by 0.09 per cent to 39,148.22 basis points, with Year-to-Date loss increasing to -2.7 per cent.
Equities investors, on Wednesday, lost N19 billion as the market capitalisation stood at N20.416 trillion.
Bears maintained their grasp on the market breadth for the trading session as 17 counters in the losers’ chart were matched with 9 counters in the gainers’ chart.
AIICO gained 4.04 per cent to lead the gainer’s chart. It is flanked by Custodian Insurance, Godson Pharmaceutical, Fidelity Bank and Livestock to complete the gainers’ chart.
From the rear of the chart FTN Cocoa, Morison, UPDC, Jaiz Bank and Wema Bank populated the top losers’ chart.
On sectors, the Consumer Goods, Banking, Insurance, and Oil & Gas indices declined by 0.6 per cent, 0.2 per cent, 0.2 per cent and 0.1 per cent, respectively; while the Industrial Goods index closed flat.
Market activity as measured by both volume and value of trades closed in the same direction at the end of the trading session, as daily traded volume stood at 169 million units, a 60.23 per cent decrease from a volume of 426 million units traded in the previous session.
The value of traded stocks also waned in the session by 27.60 per cent to stand at N1.424 billion as against a value of N1.967 billion recorded in the previous trading session.
Transnational Corporations was the most traded stock during the second trading session. It is flanked by Zenith Bank, Honeywell Flourmills, United Capital and Mutual Benefits to complete the list of the five most traded stocks in terms of volume of trades.
With regards to the value of traded stocks, Zenith Bank, Seplat, GTCO, MTN Nigeria and Nigerian Breweries made up the top five performers.
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