Sunday, October 24, 2021

    Negative Sentiment Persists as NGX-ASI dip 21.16 points

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    Naija247news Editorial Team
    Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

    On Wednesday, the Nigeria equities market sustained the bearish sentiment to three successive trading sessions as the market performance indicators (NGX-ASI and Market Capitalization) declined by 0.05%.

    The decline was impacted by price depreciation in Banking and Consumer Goods.

    As a result, the All-Share Index dipped 21.16 bps, representing a 0.05 percent decrease to close at 38,852.69.

    While the Market Capitalization lost ₦11.02bn, representing a decline of 0.05 percent to close at ₦20.24 trillion

    → Correspondingly, the market activities traded bearishly, as both the total volume and value traded shed 15.54 percent and 35.55 percent, respectively.

    A total of 155.77 million units of shares valued at ₦1.51 billion were traded in 3,256 deals.

    UNIVINSURE outdid the traded stocks in terms of volume, accounting for 12.22 percent of the total volume of trades, followed by UBA (12.06%), ZENITHBANK (7.55%), GTCO (6.43%), and UCAP (5.47%) to complete the top five on the volume chart.

    While, GTCO remained the most traded stock in value terms, with 17.96 percent of the total value of trades on the exchange.

    → TRANSCOHOT led the advancers table with price appreciation of 10.00 percent, followed closely by PHARMDEKO (9.88%), WEMABANK (1.32%), AIICO (1.03%), ETI (0.95%), FIDELITYBK (0.42%), WAPCO (0.22%), and 6 others.

    In contrast, VERITASKAP topped the decliners chart as its share price dipped by 8.70 percent to close at ₦0.21, as UCAP (-5.00%), ACCESS (-3.37%), VITAFOAM (-1.96%), UBN (-1.00%), UBA (-0.65%), ZENITHBANK (-0.22%) and GTCO (-0.18%) amongst others also declined in price.

    In conclusion, the market breadth closed negatively, recording 13 gainers and 17 losers.

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