Stock Market Returns South on Cautious Trading Activities
Kayode Tokede
The Nigerian stock market yesterday closed negative with a decline of 0.004 per cent on cautious trading activities by investors.
Specifically, the Nigerian Exchange Limited All-Share Index (NGX ASI) depreciated by 6.27 basis points, or 0.004 per cent to close at 147,710.96 basis points from 147,717.23 basis points, with the Month-to-Date and Year-to-Date returns holding firm at +3.5per cent and +43.5per cent, respectively.
Also, market capitalisation lost N3.99 billion to close at N 93.757 trillion from N93.760 trillion it opened for trading.
Sectoral performance was mixed as the NGX Insurance appreciated by one per cent , NGX Industrial Goods gaiined 0.3per cent, and NGX Consumer Goods advanced by 0.1per cent, while the NGX Banking index dipped by 0.4per cebt and NGX Oil & Gas declined by 0.1per cent.
Also, market sentiment was bearish, with 36 declining stocks outnumbering 23 gainers. Regency Alliance Insurance recorded the highest price gain of 8.82 per cent to close at N1.48, per share. Prestige Assurance followed with a gain of 6.71 per cent to close at N1.75, while Wapic Insurance up by 6.45 per cent to close at N3.30, per share.
Legend Internet rose by 5.45 per cent to close at N5.80, while CWG appreciated by 4.74 per cent to close at N18.8, per share.
On the other hand, Austin Laz & Company led the losers’ chart by 7.94 per cent to close at N2.90, while Deap Capital Management & Trust and Fidson Healthcare followed with a decline of 6.67 per cent each to close at N1.68 and N40.60, per share.
Caverton Offshore Support Group depreciated by 6.35 per cent to close at N6.49, while Berger Paints declined by 5.92 per cent to close at N36.55, per share.
The total volume traded declined by 20.73 per cent to 495.103 million units, valued at N17.341 billion, and exchanged in 495.103 deals. Transactions in the shares of Fidelity Bank topped the activity chart with 50.903 million shares valued at N1.021 billion. Chams Holding Company followed with 37.363 million shares worth N157.747 million, while Tantalizer traded 36.693 million shares valued at N85.251 million.
Access Holdings traded 30.156 million shares valued at N784.598 million, while Sovereign Trust Insurance sold 21.729 million shares worth N76.671 million.
