Markets
Nigerian stock market starts week with 0.4% dip
Selloffs in STANBIC, NIGERIAN BREWERIES and GUINNESS dragged the Nigerian equity market down by 0.4% on Monday.
The All-Share Index declined 53.84 absolute points, representing a decrease of 0.40% to close at 38,712.55 points, the YTD loss worsened to -3.9% and market capitalisation lost by ₦75.0billion to close at ₦20.3trillion.
Investors’ interest in the bourse improved as the volume and value of equities traded were up 20.8% and 6.5% respectively to 194 million units and ₦1.4billion.
FIDELITY (30.9millio units), CHAMS (29.5millio units), and ACCESS (23.4millio units) got investors’ attention the most regarding volume, while ACCESS (₦189.0m), GUARANTY (₦120.5m), and TOTAL (₦102.8m) were their delight in terms of value.
The Banking sector was the sole advancer, appreciating 0.2% on the back of STERLING, FBNH and ACCESS which gained.
The Consumer Goods and Insurance sectors, on the other hand, declined 1.0% and 0.8% respectively on the back of selloffs in NIGERIAN BREWERIES and MANSARD.
While the Oil & Gas sector dipped by 0.12% due to profit-taking in OANDO, the AFR-ICT and Industrial Goods sectors closed flat.
JAPAULGO (+9.5%), UAC-PROP (+9.3%) and ROYALEX (+8.3%) were the top gainers of the 15 advancers, while STANBIC (-9.9%), GUINNESS (-9.9%), and CUSTODIAN (-8.4%) topped against 17 laggards.
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