Equities trading at the Nigerian Exchange Limited (NGX) on Thursday was bearish thus extending the previous day’s loss to close the fourth trading session of the week on a negative note.
Specifically, the benchmark index dipped further by 0.48 per cent to stand at 46,543.51 basis points at the end of the day’s trading activities, bringing both the month-to-date and year-to-date performance of the All-Share Index (ASI) at -0.90 per cent and 8.96 per cent respectively.
Market Capitalisation followed the same direction as the ASI to stand at N25.092 trillion, representing a 0.48 per cent drop from the N25.212 trillion it stood at the end of the previous trading session, as investors lost N120 billion in the session.
However, bulls dominated the market breadth, as 20 counters in the gainers’ chart were against 16 counters in the losers’ chart.
On the performance chart, Conoil Plc gained 9.89 per cent to become the best performing stock in the session followed by RTBriscoe, Japaul Gold, Meyer and Regal Insurance as the top five gainers on the chart.
Conversely, Veritas Capital, UACN, Transcorp Hotels, UPDCreit and EcoBank Transnational Incorporated were the top five losers of the day.
All sectoral indices closed in the same direction as the ASI, aside from NGX Oil and Gas and NGX Industry which gained weight, while NGX Growth and NGX ASEM closed flat.
Market activity for the day was unimpressive as both volume and value of trades shed weight at the end of the trading session with the daily traded volume at 244.042 million units, representing a 6.71 per cent drop from a volume of 261.592 million units traded in the previous session.
The value of those traded stocks waned by 3.46 per cent in the session to stand at N2.350 billion as against a value of N2.434 billion recorded in the previous trading session.
Fidelity Bank was the toast of investors having dominated the volume charts as the top traded stock by volume for the trading session, followed by Transcorp, Zenith Bank, United Bank for Africa and Access Holdings RANSCORP 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 as well, flanked by NGX Group, Guaranty Trust Holding Company, Nigerian Breweries, and lastly MTN Nigeria.
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