Today, the Nigeria stock market nosedived to kick start the ember months in red as investors’ wealth dipped by 0.09 percent.
The bearish sentiment was experienced in all five major market indices, save for the Industrial Goods that remain unchanged.
Accordingly, the All-Share Index shed 35.43bps, representing a 0.09 percent dip to close at 39,184.18. While the Market Capitalization lost ₦18.46bn, representing a decline of 0.09 percent to close at ₦20.42 trillion.
→ Similarly, market activities were bearish, as the total volume and value traded depreciated by 60.23 percent and 27.60 percent, respectively.
A total of 169.30 million units of shares valued at ₦1.42 billion were traded in 3.449 deals.
TRANSCORP sustained its led on the volume chart, accounting for 16.86 percent of the total volume of trades, followed by ZENITHBANK (9.80%), HONYFLOUR (7.82%), UCAP (7.56%), and MBENEFIT (4.92%) to complete the top five on the volume chart.
ZENITHBANK also remain the most traded stock in terms of value, with 27.96 percent of the total value of trade on the exchange.
→ AIICO topped the gainers’ table with price appreciation of 4.04 percent, followed closely by CUSTODIAN (3.15%), FIDSON (2.80%), LIVESTOCKS (0.95%), STERLNBANK (0.66%), GTCO (0.37%) and four others. On the other hand, FTNCOCOA topped the decliners’ table as its share price declined by 9.77 percent to close at ₦0.52, as WEMABANK (-4.65%), HONYFLOUR (-4.21%), NB (-2.93%), UACN (-1.82%), ACCESS (-1.10%), FBNH (-0.67%) and DANGSUGAR (-0.56%) amongst others also decline in price, as the market breadth closed negatively with 9 gainers as against 17 losers.
→ The bearish sentiments in recent days has created more investment opportunities, as such, we expect the market to upturn the negative performance in the next session.