Sunday, October 24, 2021

    BUACEMENT and 11 Others Drag the Equities Market Lower by 0.25%

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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.

    The Nigeria Local bourse on Monday resumed the new week on a negative note as the market indicators (NGX-ASI and Market Capitalization) dipped by 0.25 percent. The decline was impacted by the price depreciation in some highly capitalized stocks, like BUACEMENT, GTCO and ZENITHBANK. As a result, the All-Share Index dipped by 97.95 bps, representing a 0.25 percent decrease to close at 38,864.33. While the Market Capitalization lost ₦51.04 bn, representing a decline of 0.25 percent to close at ₦20.25 trillion.

    → Similarly, the market activities traded bearishly, as both the total volume and value traded lower by 77.99 percent and 73.44 percent, respectively. A total of 139.45 million units of shares valued at ₦1.71 billion were traded in 3,539 deals. SOVRENINS topped the traded stocks in terms of volume, accounting for 13.68 percent of the total volume of trades, followed by FIDELITYBK (8.50%), GTCO (7.99%), TRANSCORP (7.21%), and COURTVILE (5.70%) to complete the top five on the volume chart. While, MTNN appeared to be the most traded stock in value terms with 27.15 percent of the total value of trades on the exchange.

    → UPL topped the gainers’ chart with price appreciation of 9.80 percent, followed by OANDO (6.07%), LIVESTOCK (4.72%), ACCESS (2.79%), FCMB (1.35%), DANGSUGAR (1.16%), UBN (1.01%), UACN (1.00%), FLOURMILL (0.86%), 11 others. Conversely, MANSARD led the decliners’ chart as its share price dipped by 9.94 percent to close at ₦2.99, as MBENEFIT (-3.33%), BUACEMENT (-2.94%), UBA (-0.67%), UCAP (-0.58%), GTCO (-0.54%) and ZENTHBANK (-0.21%) amongst others also declined in price. Despite the decline in the market activities, the market breadth closed positive, recording 20 gainers and 12 losers.

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