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    Bellwether Stocks Sustain Negative Sentiment as Investors’ Wealth Shed ₦51Bn

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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.

    The Nigerian equities market today sustained the previous day’s negative sentiment, declining 0.22 percent. The decline was driven by profit-taking in MTNN and other bellwether stocks.

    Consequently, the market index (All-Share Index) dipped 98.24 basis points, representing a decline of 0.22 percent to close at 43,609.06.

    While the Market Capitalization lost ₦51.27Bn, representing a decrease of 0.22 percent to close at ₦22.76 trillion.

    → Similarly, the market activities were also bearish, as the Total Volume and Value traded dipped by 40.41 percent and 61.97 percent, respectively, as against the previous session.

    A total of 161.31 million units valued at ₦2.14 billion were transacted in 3,574 Deals.

    Today, FBNH outdid the traded stocks in terms of volume, accounting for 17.45 percent of the total volume of trades, followed by TRANSCORP (14.57%), ZENITHBANK (7.76%), ACCESS (5.76%), and STERLNBANK (5.14%) to complete the top five on the volume chart.

    While MTNN sustained its top spot position as the most traded stock in value terms, with 18.94 percent of the total value of trades on the exchange.

    → UNITYBNK topped the advancers’ list as its share prices rose by 7.27 percent, trailed by WAPCO (2.62%), JAPAULGOLD (2.33%), UACN (2.33%), AFRIPRUD (0.79%), FBNH (0.44%), and six (6) others.

    Conversely, 19 stocks declined in price led by CORNERST with price depreciation of 8.77 percent to close at ₦0.52, as UBA (-2.40%), ETI (-2.31%), NGXGROUP (-2.16%), UCAP (-1.02%), GTCO (-0.90%), ACCESS (-0.78%), MTNN (-0.50%) and ZENITHBANK (-0.41%) also dipped in price.

    In that regard, the market breadth closed negatively, recording 12 gainers and 19 losers.

    → Similarly, the sector performance was bearish as three of the five major sectors closed negatively, led by Banking (-0.95%), Insurance (-0.93%) and Industrial Goods (-0.10%).

    While the Consumer Goods that gained 0.02%, as the Oil & Gas sector remain unchanged.

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