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    Bearish Sentiment Persist as Market Cap Dips Below ₦22Trn

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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 Nigeria equity market resumed the new week on a bearish sentiment to persist the sell-down to six-consecutive trading days. Today’s decline follows the investors sell-off sentiment in all the market sectors.

    Resultantly, the market index (All-Share Index) dropped 159.31 basis points, representing a decline of 0.38 percent to close at 42,008.31.

    While the Market Capitalization lost ₦83.13Bn, representing a decrease of 0.38 percent to close at ₦21.92 trillion.

    → However, the market activities were bullish as the Total Volume and Value traded rose by 133.31 percent and 84.34 percent, respectively.

    422.18 million units valued at ₦4.47 billion were transacted in 5,059 Deals.

    FBNH topped as the traded stock in terms of volume, accounting for 30.52 percent of the total volume of trades, followed closely by STERLNBANK (18.42%), GTCO (11.32%), UCAP (4.96%), and UBA (4.40%) to complete the top five on the volume chart.

    Also, FBNH emerged as the most traded stock in value terms, with 33.68 percent of the total value of trades on the exchange.

    → In terms of profitability, ROYALEX appeared as the most profitable stock to lead the advancers’ chart with a price appreciation of 9.43 percent, trailed by CHIPLC (9.09%), ACADEMY (7.69%), INTBREW (2.04%), PZ (0.84%) and five (5) others.

    On the flipside, 24 stocks depreciated, topped by WAPCO with price depreciation of 9.94 percent to close at ₦22.2, as VITAFOAM (-8.68%), UBA (-5.06%), ETERNA (-4.13%), DANGSUGAR (-3.13%), CUSTODIAN (-2.60%), ACCESS (-2.25%), FBNH (-0.85%), GTCO (-0.62%) and UCAP (-0.51%) also dipped in price.

    As a result, the market breadth closed negative, recording 10 gainers and 24 losers.

    → Therefore, all the market sectors of the market were negative, led by Insurance (-1.77%), Banking (-1.37%), Industrial Goods (-0.58%), Consumer Goods (-0.34%) and Oil & Gas (-0.11%), respectively.

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