Markets
Nigerian equity market declines further 0.29%
Sell-pressure caused the Nigerian capital market to further decline by 0.29% to close at 47,063.28 points due to price depreciation in AIRTELAFRI, NGXGROUP, BUAFOODS and GTCO.
The year-to-date return decreased to +10.18% while market capitalisation declined by ₦74.92bn to ₦25.36tn.
Activity level, however, strengthened, as volume and value traded increased by 8.51% and 29.41% to 338mn units and ₦5.68bn respectively.
The most active stocks by volume were FIDELITYBK (35.82munits), ACCESS (3 3.8 5m units) and TRANSCORP (3 2.8 8m units) while MTNN (₦1.67bn), AIRTELAFRI (₦647.04mn) and GTCO (₦613.44mn) led by value.
The Consumer Goods and Services indices were the only gainers, up by 9 8bps and 78bps respectively on the back of gains in GUINNESS (+10.0 0%), FLOURMILL (+3.56%), LEARNAFRCA (+10.0 0%) and RTBRISCOE (+7.69%).
On the flip side, the ICT and Healthcare indices led the laggards, shedding 7 7bps and 63bps respectively owing to losses in COURTVILLE (-7.27%), AIRTELAFRI (-1.65%) and NEIMETH (-5.24%). In addition, the Oil & Gas and Banking indices declined by 0.16% and 0.12% respectively due to losses in JAPAULGOLD (-7.69%) and UNITYBNK (-4.00%).
Elsewhere, the Agriculture and IndustrialGoods indices closed flat. We expect sentiment to remain downbeat in the next trading session.
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