Profit-taking dips stock market by 0.1 per cent, sheds N20.7bn

The Nigerian equities market started the week’s trading negatively, as profit-taking witnessed dips the All Share Index (ASI) of the Nigerian Exchange Limited (NGX) by 0.1 per cent.

On Monday, profit booking on Guaranty Trust Bank impacted on the ASI as it closed at 38,686.40 basis points.

Other notable shares were WAPCO, Unilever, AIICO Insurance and United Bank for Africa as they moderated by 1.22 per cent, 2.10 per cent, 2.61 per cent and 0.70 per cent respectively.

Accordingly, Month-to-Date gain moderated to 0.7 per cent while Year-to-Date loss increased to -3.9 per cent.
The market’s worth settled at N20.164 trillion as the downtrend took N20.7 billion off investments.

As measured by market breadth, market sentiment was negative as 26 tickers lost relative to 13 gainers.

On the performance chart, CWG and Honeywell Flour topped the losers’ list with respective 9.8 per cent and 5.7 per cent decline while Morison and Conoil recorded the most significant gains of the day having recorded 9.7 per cent and 9.6 per cent appreciation in their respective shares.

Performance across sub-sector gauges tracked was weak as four out of the five indices tracked closed in the red zone; the NSE Banking, NSE Insurance, NSE Consumer Goods and the NSE Industrial indices fell by 0.86 per cent, 1.91 per cent, 0.09 per cent and 0.04 per cent respectively. On the positive side, the NSE Oil/Gas index rose by 0.31 per cent.

Meanwhile, trading activity was positive as total deals and volume of stock traded rose by 25.65 per cent and 5.87 per cent to 3,958 deals and 0.21 billion units respectively.

FBN Holdings was the most traded stock by volume at 16.64 million units, while Zenith Bank was the most traded stock by value at N365.90 million.

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The SMS reads: “Congratulations, You’re eligible to benefit from the ongoing TETFUND N20,000 Grant. You can accept the grant by clicking http://bit.ly/TETFUND-GRANTS today.”Profit-taking dips stock market by 0.1 per cent, sheds N20.7bn

Profit-taking dips stock market by 0.1 per cent, sheds N20.7bn