Nigerian Equities Market extends negative outing into the month of June, opening with a 1.24 decline in the benchmark index.
Specifically, the All-Share Index (ASI) of the Nigerian Exchange Limited (NGX) dipped further by 1.24 per cent to stand at 52,974.15 basis points as against a previous close of 53,637.14 basis points.
This bearish trade dragged both the month-to-date and year-to-date performance of the All-Share Index at -1.24 per cent and 24.01 per cent respectively.
Equities investors’ net worth therefore reduced by N357 billion as the market capitalisation followed suit the direction of the ASI to stand at N28.559 trillion, representing a decrease of 1.23 per cent from the N28.916 trillion it stood at the end of the previous trading session.
Following the previous day’s trend, the bulls’ camp maintained grip over the market breadth with 14 counters in the losers’ chart pitted against 20 counters in the gainers’ chart.
On the chart, Eterna Oil, FTN Cocoa, NACHO, Ikeja Hotel and Transncorp were the best-performing stocks in the session as they populated the top five gainers’ chart, while from the rear of the chart Okomu Oilpalm, NCR, Conoil, Neimeth Pharmaceutical and Fidelity Bank populated the top five losers’ chart.
All sectoral indices closed in the same direction as the ASI, save the Consumer Goods sector which gained 0.09 per cent while NGX Growth and NGX ASEM sectors closed flat.
Market activity as measured by both volume and value of trades shaded weight in the session with daily traded volume standing at 295.354 million units, representing a 7.20 per cent decrease from a volume of 318.278 million units traded in the previous session.
The value of traded stocks declined by 3.32 per cent in the session to stand at N3.590 billion as against a value of N3.714 billion recorded in the previous trading session.
Transcorp dominated the volume charts as the top traded stock by volume for the trading session. This is followed by Guaranty Trust Holding Company, Conoil, Sterling Bank and Royal Exchange to complete the list of the five most traded stocks by volume.
With regards to the value of traded stocks, Airtel Africa also took the lead of the top five performers, flanked by Conoil, GTCO, MTN Nigeria, and Nigeria Breweries.
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