NGX: Profit taking weighs market down despite improved activities

At the Nigerian Exchange Limited (NGX) on Wednesday, equities trading experienced mixed sentiments albeit with a bearish tilt.

Notably, profit-taking activities in the shares of Dangote Sugar, GTCO and Zenith Bank undermined the market’s performance as they depreciated 2.8 per cent, 0.7 per cent and 0.4 per cent respectively.

Thus, the All-Share Index traded flat at 39,449.82 basis points, whole the market capitalisation shed N5.66 billion to settle at N20.55 trillion

Accordingly, Month-to-Date and Year-to-Date returns printed +2.3 per cent and -2.0 per cent, respectively.
Market sentiment on Wednesday was negative howbeit marginally, as the market breadth recorded that 18 tickers lost, relative to 16 gainers.

Academy Press and PharmaDeko topped the losers’ list on the performance chart after each shares depreciated by 9.8 per cent and 9.5 per cent; while CAP Hotel and Eterna Oil recorded the most significant gains of the day having appreciated in stocks value by respective ten per cent.

Sectoral performance was broadly negative as the Insurance, Consumer Goods, Banking and Oil and Gas indices closed in the red after depreciating in respective shares value by 0.5 per cent, 0.1 per cent, 0.1 per cent and 0.1 per cent. The Industrial Goods index was flat.

Activities at the local bourse on Wednesday went uptick slightly as the total volume of trades increased by 0.8 per cent to 198.33 million units, valued at N1.06 billion, and exchanged in 3,336 deals.

Sovereign Insurance was the most traded stock by volume at 48.38 million units, while MTN Nigeria was the most traded stock by value at N155.24 million.

YOU SHOULD NOT MISS THESE HEADLINES FROM NIGERIAN TRIBUNE

Marburg Virus: What You Need To Know About Disease Recently Detected In West Africa

On Monday, August 9, 2021, the World Health Organisation (WHO) confirmed the first case of Marburg virus in West Africa in Guinea. This development has sent shivers down the spines of West Africans who are still grappling with the effects of the coronavirus pandemic. But before this dreaded disease is greeted by rumours and misinformation, here is what you have to know about the virus.NGX: Profit taking weighs market down despite improved activities

NGX: Profit taking weighs market down despite improved activities