NSE Records ₦39.6 Billion Loss as Investors Book Profit
The Nigerian stock market records ₦39.6 billion loss in first trading session this week on investors profit-taking activities.
At the close of trade, the equities market had a bearish outing as the NSE All-Share Index declined 23bps to close at 41,082.38 points.
Market recorded loss following profit-taking in DANGCEM (-1.0%), FBNH (-3.9%) and FLOURMILL (-5.5%).
As a result, year to date return fell to 2.0% while market capitalisation settle at ₦21.5 trillion.
However, activity level was mixed as volume traded rose 10.8% to 738.5 million units while value traded fell 34.8% to ₦4.2 billion.
The most traded stocks by volume were UNIVINSURE (51.8 million units), TRANSCORP (43.1 million units) and FBNH (39.8 million units).
ZENITH (₦820.1 million), GUARANTY (₦422.0 million) and ACCESS (₦303.0 million) topped by value.
Afrinvest said in a noted that performance across sectors was mixed as 3 indices gained, 2 lost and one closed flat.
The Insurance index maintained dominance, advancing 6.0% due to buying interest in MANSARD (+5.6%), AIICO (+10.0%) and WAPIC (+9.1%).
Similarly, the Oil & Gas and Banking indices rose 2bps and 1bp respectively due to price uptick in OANDO (+0.3%), GUARANTY (+1.8%) and ETI (+0.8%).
Conversely, the Consumer and Industrial Goods indices lost 0.6% and 0.4% respectively following losses in FLOURMILL (-5.5%), INTBREW (-2.2%) and DANGCEM (-1.0%).
Meanwhile, the AFR-ICT index closed flat.
Investor sentiment as measured by market breadth weakened to 1.7x from the 3.4x recorded previously as 35 stocks advanced against 21 decliners.
AFRINSURE (+10.0%), TRANSEXPR (+10.0%) and UNIVINSURE (+10.0%) were the best-performing tickers.
FLOURMILL (-5.5%), WEMABANK (-5.3%) and NEIMETH (-4.8%) were the losers.
“In the next trading session, we expect to see investors take profit.
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“However, we are optimistic that the market will close on a positive note this week”, Afrinvest stated.
NSE Records ₦39.6 Billion Loss as Investors Book Profit
