Markets
Nigerian equity market downtrend extends further
The Nigerian Exchange downtrend extended to nine consecutive sessions on Thursday, driven by losses suffered by blue-chip equities such as Dangote Cement, GTBank and UACN.
The All Share Index (NGX ASI) and the Market Capitalization decreased by 0.49%, while the Year-to-Date return stood at -5.53%. The All Share Index closed at 38,044.58 against the previous close of 38,233.68 while Market Capitalization closed at ₦19.830 trillion against the previous close of ₦19.928 trillion.
The volume of equities traded increased by 5.46% from 203.088 million to 214.172 million, while the total value of stock traded decreased by 26.37% from ₦1.816 billion to ₦1.337 billion in 3,565 deals.
The Financial Services sector led the activity chart with 147.325 million shares exchanged for ₦0.704 billion. Conglomerates came next with 28.288 million shares traded for ₦0.185 billion, ICT, Oil And Gas, Services sectors followed in that order on the activity chart.
Sovrenins, Mbenefit, UACN, Transcorp and Sterlnbank were the most active stocks by volume and GUARANTY, UACN, and ZENITH led by value.
Mbenefit, Regalins, Cutix, Chiplc and Champion emerged as the highest price gainers on the chart, while Sovrenins, Abctrans, Academy, Royalex and Wapic topped the losers’ chart.
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