Wednesday, September 22, 2021
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    Stock market sustains bearish sentiment, dip for six consecutive sessions

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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.

    Today, investors in Lagos Custom Street resumed the new week on a negative note, sustaining the bearish sentiment to six consecutive trading sessions.

    The sell-down was a result of price decline in small and medium capitalized stocks like WAPCO, AFRIPRUD, among others. Consequently, the All-Share Index declined by 6.16bps, representing a 0.02 percent decrease to close at 38,915.62.

    While the Market Capitalization lost ₦3.21 bn, representing a decline of 0.02 percent to close at ₦20.28 trillion. However, the market has declined by 0.88 percent over the past six trading sessions.

    → Meanwhile, the market activities traded bullishly, as the total volume and value traded rose by 30.11 percent and 11.39 percent, respectively.

    A total of 201.10 million units of shares valued at ₦2.53 billion were traded in 3,340 deals.

    UNIVINSURRE top the traded stock in terms of volume, accounting for 9.67 percent of the total volume of trades, followed by FIDELITYBK (9.59%), FBNH (8.29%), COURTVILLE (6.84%), and ACCESS (6.71%) to complete the top five on the volume chart. While NESTLE emerged as the most traded stock in value terms, with 48.04 percent of the total value of trades on the exchange.

    → MORISON topped the gainers’ table with price appreciation of 9.38 percent, trailed by SOVRENINS (8.00%), STERLNBANK (2.00%), UBA (1.32%), ACCESS (1.09%), STANBIC (0.26%), NB (0.21%), GTCO (0.18%) and 10 others. On the other hand, SCOA topped the losers’ table as its share price declined by 10.00 percent to close at ₦1.17, as GUINNESS (-3.23%), WAPCO (-1.79%), AFRIPRUD (-1.56%), CUSTODIAN (-0.75%), FBNH (-0.66%), and UACN (-0.48%) amongst others also decline in price. The market breadth closed negatively, recording 18 gainers and 20 losers.

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