Nigerian Bourse Ends Lower as Investors Dump More Stocks

Nigerian Bourse Ends Lower as Investors Dump More Stocks

Nigerian bourse ends lower again on Thursday as investors dump more stocks across sectors despite strong gross domestic growth data for the third quarter of 2021. Yet another bearish trading activity recorded on the local bourse drags stock market indicators downward as the year to date return falls.

Due to the weak sentiment, the Nigerian Exchange All-share index plunged further by 0.15% despite price appreciation in Airtel Africa shares as investors continue to take a position in the Telecom future earnings.

Consequently to the bearish outturn, the Nigerian All-share index decreased by 63.93 basis points, representing a decline of 0.15 per cent to close at 43,285.97 points, according to market data.

Market capitalisation dropped off ₦33.36 billion as bears get hold of the trading activities, representing a decrease of 0.15 per cent to close at ₦22.59 trillion.

Likewise, the market activities traded negatively, as the total volume and value traded depreciated by 20.48 per cent and 57.17 per cent, respectively, as against the previous session.

Data from the Nigerian Exchange shows that a total of 210.55 million units valued at ₦2.61 billion were transacted in 3,423 deals.

STERLNBANK topped the traded stocks in terms of volume, accounting for 28.60 per cent of the total volume of trades, trailed by ETRANZACT (6.69%), TRANSCORP (6.24%), GTCO (5.20%), and JAIZBANK (4.96%) to complete the top five on the volume chart.

Meanwhile, AIRTELAFRI emerged as the most traded stock in value terms, with 25.71 per cent of the total value of trades on the exchange.

On the profitability charts, ETRANZACT and VITAFOAM emerged as the most profitable stocks for the day. These companies stock topped the advancers’ list with price appreciation of 10.00 per cent each.

They were trailed by ACADEMY (9.09%), JAIZBANK (6.45%), PZ (4.31%), ETI (1.78%), CUSTODIAN (1.31%), AIRTELAFRI (0.33%) and four (4) others. Market data shows that 23 stocks depreciated in price.

On the looser chart, CHAMS led with price depreciation of 8.70 percent to close at ₦0.21, as FBNH (-6.50%), UACN (-4.55%), AFRIPRUD (-3.08%), NGXGROUP (-2.23%), WAPCO (-1.96%), UCAP (-1.53%), UBA (-1.19%), OANDO (-1.02%), UBN (-1.00%), GTCO (-0.76% and HONYFLOUR (-0.29%) also dipped in price.

Thus, the market breadth closed largely negative, recording 12 gainers and 23 losers.

As expected, the sector performance was negative, as three of the five major sectors closed bearishly, led by Banking and Industrial Goods sectors with 0.19 per cent decline, respectively, as the Industrial Goods sectors dipped by 0.12 present.

Meanwhile, the Insurance and Consumer Goods sector rose by 0.59 per cent and 0.14 per cent, respectively, as against the previous session. #Nigerian Bourse Ends Lower as Investors Dump More Stocks

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