The Nigeria equity market resumed the new week on a bearish sentiment as market performance indicators shed 0.02 percent following sell-off in highly capitalized consumer goods companies, such as MAYBAKER, FLOURMILL and DANGSUGAR.
Consequently, the All-Share Index dipped by 8.12bps, representing a 0.02 percent decrease to close at 39,252.89.
While the Market Capitalization lost ₦4.23bn, representing a decline of 0.02 percent to close at ₦20.45 trillion.
→ Nevertheless, market activities were mixed, as the total volume traded appreciated by 17.00%, while the value traded depreciated by 19.74 percent.
A total of 210.95 million units of shares valued at ₦1.38 billion were traded in 3,989 deals.
ACCESS topped on the volume chart, accounting for 14.47 percent of the total volume of trades, followed by MBENEFIT (12.72%), SOVRENINS (10.13%), UNIVINSURE (6.14%), and HONYFLOUR (6.12%) to complete the top five on the volume chart.
Also, ACCESS emerged as the most traded stock in value terms, with 20.39 percent of the total value of trade on the exchange.
→ LINKASSURE topped the gainers’ table with price appreciation of 8.93 percent, followed by ETI (5.77%), UACN (4.76%), HONYFLOUR (3.31%), UCAP (2.18%), OANDO (1.97%), ACCESS (1.09%), ZENITHBANK (0.61%)and thirteen others.
Conversely, GLAXOSMITH topped the decliners’ table as its share price declined by 9.56 percent to close at ₦6.15, as CHIPLC (-8.62%), FLOURMILL (-4.17%), AFRIPRUD (-3.20%), DANGSUGAR (-2.25%), UBA (-1.94%), STANBIC (-1.38%) and WEMABANK (-1.18%) amongst others also decline in price.
The market breadth closed positively with 21 gainers as against 15 losers.
→We expect the market to upturn the negative sentiment in the next trading session as the 365-Tenor yield rate dropped further to 6.87%