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    Equity Market Closes Near Flat on Cautious Note, Despite Increase in Four Key Sectors

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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.

    Despite the growth in four key sectors (except for the Oil & Gas) of the market, the Nigeria equity market closed near flat amidst sell-off and buy-interest in some medium and highly capitalized stocks.

    In that regard, the All-Share Index rose slightly by 0.20 bps, representing a growth of 0.0005 per cent to close at 41,814.94.

    While the Market Capitalization gained ₦10 Mn, representing a marginal surge of 0.0005 per cent to close at ₦21.82 trillion.

    → However, the market activities traded bearishly, as the Total Volume and Value dipped by 47.63 percent and 26.63 percent.

    A total of 353.23 million units valued at ₦5.57 billion were transacted in 5,322 Deals. FBNH topped the traded stocks in terms of volume, accounting for 20.70 percent of the total volume of trades, maintaining the position as the most trading stock, followed by GTCO (7.09%), UNIVINSURE (6.45%), UBA (5.76%), and TRANSCORP (5.22%) to complete the top five on the volume chart.

    Also, FBNH appeared as the most traded stock in value terms, with 16.28 percent of the total value of trades on the exchange.

    → UNIVINSURE and UPL led in the gainers’ chart as their share prices appreciation of 10.00 percent, respectively, trailed CHAMS (4.55%), UACN (3.18%), ETI (1.95%), WAPCO (1.21%), UBA (1.20%), PZ (0.78%), UNILEVER (0.65%), NAHCO (0.29%), and 12 others.

    On the contrary, 21 stocks declined in price led by ABCTRANS with price depreciation of 8.82 percent to close at ₦0.31, as CUTIX (-5.47%), NGXGROUP (-4.61%), NB (-2.82%), HONYFLOUR (-1.64%), FBNH (-1.20%) , AFRIPRUD (-0.78%), NEIMETH (-0.56%), ZENITHBANK (-0.40%) and GTCO (-0.35%) also dipped in price.

    However, the market breadth closed positive, recording 22 gainers and 21 losers.

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