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Nigerian Exchange sustains downtrend, dips 0.02%

Felix Oloyede



Nigerian Exchange up 1.4% this week

The Nigerian Exchange extended downtrend to six consecutive trading sessions on Monday, driven by sell pressure on ZENITH, WAPCO, and OANDO.

The NGX All-Share Index declined 0.02% to close at 38,915.62 points while YTD loss worsened to -3.4% and market capitalisation fell ₦3.2bn to ₦20.3tn.

The volume and value traded rose by 30.1% and 11.4% to 201.1m units and ₦2.5bn respectively and most traded stocks by volume were UNIVINSURE (19.4m units), FIDELITY (19.3m units), and FBNH (16.7m units) while NESTLE (₦1.2bn), STANBIC (₦202.1m), and UNILEVER (₦131.9m) led by value.

The Oil & Gas index led the laggards, down 0.7% due to profit-taking in OANDO (-4.1%). Similarly, the Insurance and Industrial Goods indices dipped 0.1% apiece as a result of losses in WAPIC (-3.9%), MBENEFIT(-3.2%), and WAPCO (-1.8%).

Meanwhile, the Consumer Goods and Banking indices advanced 0.2% and 0.1% respectively on the back of buying interest in HONYFLOUR (+1.3%), INTBREW (+4.2%), ACCESS (+1.1%), and FIDELITY (+4.4%).

MORISON (+9.4%), SOVRENINS (+8.0%), and LINKASSURE (+5.3%) led the gainers while SCOA (-10.0%), ACADEMY (-7.7%), and ABCTRANS (-5.7%) led the losers.

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