NGX: Market remain flat despite upsurge in activities

Equities trading at the Nigerian Exchange Limited (NGX) was flat amidst mixed sentiments as losses in Zenith Bank offset gains in Guaranty Trust Holding Company.

Despite an increase in activities level at the local bourse on Tuesday, the market closed flat leaving the All-Share Index (ASI) flat at 38,858.99 basis points.

Thus, the Month-to-Date (MtD) and Year-to-Date (YtD) returns unchanged at -0.9 per cent and -3.5 per cent, respectively.

As measured by market breadth, market sentiment was flat, as an equal number of 13 tickers recorded gains and declines.

On the performance chart, Wema Bank and Flour Mills of Nigeria recorded the most significant gains having appreciated in shares value by 5.1 per cent and 1.9 per cent respectively, while Mansard Insurance and African Prudential topped the losers’ list as their respective shares declined by 9.7 per cent and 8.6 per cent.

Sectoral performance was also mixed, as the Insurance and Banking indices declined by 3.4 per cent and 0.4 per cent respectively, while the Consumer Goods indices posted gains by 0.2 per cent. Elsewhere, the Oil & Gas and Industrial Goods indices closed flat.

Activities at the local bourse on Tuesday was impressive as the total volume of trades surged by 277.4 per cent to 526.30 million units, valued at N3.04 billion, and exchanged in  3,535 deals.

Honeywell Flour Mills was the toast of investors as it made the most traded stock by volume and value at 402.18 million units and N1.53 billion, respectively.

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