Investors at the Lagos Custom Street sustained the previous day’s negative sentiment to two successive trading sessions as the market performance indicators (NGX-ASI and Market Cap.) declined marginally by 0.004 percent. The decline follows the price depreciation in Banking and Insurance sectors.
As a result, the All-Share Index dipped by 1.60bps, representing a 0.004 percent decrease to close at 39,251.29. While the Market Capitalization lost ₦830Mn, representing a decline of 0.002 percent to close at ₦20.45 trillion.
→ However, market activities traded bullishly, as the total volume and value traded appreciated by 68.73 percent and 107.55 percent, respectively.
A total of 355.94 million units of shares valued at ₦2.87 billion were traded in 4,241 deals. FBNH topped on the volume chart, accounting for 25.93 percent of the total volume of trades, followed by ACCESS (21.26%), UNIVINSURE (7.09%), UBA (5.17%), and ZENITHBANK (4.02%) to complete the top five on the volume chart.
While, ACCESS emerged as the most traded stock in value terms, with 24.79 percent of the total value of trade on the exchange.
→ UCAP topped the gainers’ table with price appreciation of 8.00 percent, followed by HONYFLOUR (6.67%), AFRIPRUD (5.79%), STERLNBANK (3.31%), LIVESTOCK (2.33%), ACCESS (1.08%), NB (0.10%)and eight others.
Conversely, CORNERST topped the decliners’ table as its share price declined by 8.77 percent to close at ₦0.52, as ETI (-4.55%), UACN (-4.09%), NEIMETH (-3.06%), UBA (-1.32%), GTCO (-0.90%), FBNH (-0.67%) and ZENITHBANK (-0.21%) amongst others also decline in price.
The market breadth closed negatively with 15 gainers as against 21 losers.
→ Amid decline in fundamentally viable stocks and expected interim dividend from the rest of the tier-I banks, we anticipate a moderate recovery in the next trading day.