Thursday, December 2, 2021

    Stock Market Sheds 136bps to Extend Negative Sentiment

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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.

    Investors in the Nigerian stock market extended the negative sentiment to three consecutive trading sessions as the market performance indicators (NGX-ASI and Market Cap) dipped by 0.32 percent.

    The market decline was on the back of sell-off in NB, SEPLAT and some other market bellwethers.

    As such, the market index (All-Share Index) dipped by 136.25 basis points, representing a decline of 0.32 percent to close at 43,108.77.

    While the Market Capitalization lost ₦71.44Bn, representing a decrease of 0.32 percent to close at ₦22.49 trillion.

    → However, the market activities were positive as the Total Volume and Value traded appreciated by 9.43 percent and 12.53 percent, respectively.

    A total of 266.12 million units valued at ₦4.22 billion were transacted in 3,905 Deals.

    HONYFLOUR topped the traded stocks in terms of volume, accounting for 19.72 percent of the total volume of trades, trailed by GTCO (8.63%), ZENITHBANK (8.60%), TRANSCORP (6.94%), and ACCESS (5.24%) to complete the top five on the volume chart.

    SEPLAT emerged as the most traded stock in value terms, with 28.08 percent of the total value of trades on the exchange.

    → HONYFLOUR emerged as the most profitable stock for the day, topping the gainers’ chart with a price appreciation of 9.87 percent, followed by IKEJAHOTEL (8.00%), FTNCOCOA (2.44%), JAIZBANK (1.56%), UCAP (1.55%), AFRIPRUD (0.79%), STANBIC (0.66%), FIDELITYBK (0.39%) and six (6) others.

    Conversely, 24 stocks depreciated in price led by MRS with price depreciation of 9.87 percent to close at ₦13.7, as CHAMS (-8.70%), ETI (-8.57%), NB (-5.14%), UACN (-4.31%), SEPLAT (-3.63%), CADBURY (-1.60%), GTCO (-1.57%), FCMB (-0.97%), ACCESS (-0.55%) and OANDO (-0.20%) also dipped in price.

    Consequently, the market breadth closed negative, recording 14 gainers and 24 losers.

    → Conclusively, safe for the Insurance sector that grew by 0.64%, the Oil & Gas (-1.64%), Banking (-1.16%), Consumer Goods (-1.06%) and Industrial Goods (-0.01%) tanked as against the previous session.

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