Markets
Nigerian Exchange extends losses to eight consecutive trading sessions
The decline in ZENITH, FLOURMILL, GUARANTY extended the Nigerian Exchange’s losses to eight consecutive trading sessions on Wednesday.
The All-Share Index dipped by 0.06% to close at 38,233.68 points, while market capitalisation declined by ₦12.1billion to settle at ₦19.9trillion and year-to-date return deteriorated to -5.1%.
The volume of equities traded declined by 18.8% to 203.1million units while value traded rose by 17.0% to ₦1.8billion.
The most traded stocks by volume were FIDELITY (24.4m units), ZENITH (22.1m units), and MBENEFIT (16.9m units) while ZENITH (₦508.0m), GUARANTY (₦368.2m), and UACN (₦131.4m) led by value.
The Banking and Consumer Goods lost 0.4% and 0.08% respectively, following selloffs in ZENITH (-1.1%), GUARANTY (-0.7%), FLOURMILL (-5.3%), and DANGSUGAR (-0.3%).
The Insurance index emerged as the lone gainer, up by 1.2% due to price appreciation in LASACO (+9.1%) and MANSARD (+1.2%). However, the Oil & Gas, Industrial Goods, and AFRI-ICT indices closed flat.
JOHNHOLT (+9.6%), VITAFOAM (+9.2%) and LASACO (+9.1%) led gainers while FTNCOCOA (-7.3%), NPFMCRFBK (-5.6%) and FLOURMILL (-5.3%) led decliners.
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