Tuesday, September 21, 2021

    Sell-Off Persist as NGX-ASI shed 0.27%

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    Naija247news Editorial Teamhttps://www.naija247news.com/
    Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

    Investors on the Nigeria equities market sustained the previous day’s bearish sentiment, as 27 stocks declined. The bearish sentiment was driven by price waning in some large and medium capitalized stocks.

    Consequently, the market indicators (All-Share Index and Market Cap.) shed 107.06bps and ₦55.79 billion, representing a 0.27 percent dip to close at 39,219.61 and ₦20.43 trillion, respectively.

    → However, market activities were bullish, as the total volume and value traded appreciated by 41.41 percent and 28.13 percent.

    A total of 425.66 million units of shares valued at ₦1.97 billion were traded in 4,553 deals.

    TRANSCORP led the volume chart, accounting for 20.09 percent of the total volume of trades, trailed by CHAMS (13.52%), HONYFLOUR (7.43%), CHAMPION (5.58%), and FIDELITYBK (4.85%) to complete the top five on the volume chart.

    ZENITHBANK led the value chart with 12.38 percent of the total value of trade on the exchange.

    → TRANSCOHOT led the advancers’ table with price appreciation of 10.00 percent, followed by HONYFLOUR (9.74%), CHIPLC (5.00%), ETERNA (3.45%), ACCESS (1.11%), UBA (0.66%) and ten others. On the other hand, NB led the decliners’ table as its share price declined by 9.93 percent to close at ₦49.45, as WEMABANK (-4.44%), OANDO (-2.85%), FIDELITYBK (-1.67%), ZENITHBANK (-1.03%), DANGSUGAR (-0.83%), GTCO (-0.55%) and FLOURMILL (-0.52%) amongst others also decline in price.

    → Following the decline of many fundamentally viable stocks and expectation of the interim financial reports of the remaining tier-1 banks, we anticipate the market should upturn the two-days negative sentiment.

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