Stock Market Opens Negative as Investors Take Profits
The Nigerian stock market opens negative on Monday as investors take profit as earnings season momentum begins to slow down. Today’s losses were driven by price depreciation across various tickers on the bourse.
WAPCO, GTCO, OANDO, TRANSCORP, INTBREW, FCMB, ETERNA, UBN, FLOURMILSS, PZ printed losses as the Nigerian Exchange All-share index (NGX-ASI) declined by 0.12 per cent. Amidst the bearish run, the stock market recorded 21 gainers and 11 losers as market breadth turned positive.
However, market activities closed on a lower note with the volume and value of stocks traded on the exchange depreciating by 24.68 per cent and 36.26 per cent respectively.
A total of 211.32 million units of shares valued at ₦2.02 billion were traded in 3,393 deals.
CHAMS led the volume chart, accounting for 22.71 per cent of the total volume of trades, followed by GTCO (9.91%), HONEYFLOUR (6.89%), COURTVILLE (6.17%), and WEMABANK (4.90%) to complete the top five on the volume chart.
GTCO topped the value chart accounting for 28.90 per cent of the total value of trade on the exchange.
FTNCOCOA and PHARMDEKO topped the advancers’ list, as their share prices edged upward by 10.00 per cent and 9.88 per cent, respectively. WAPCO led the losers’ table with its share price declining by 5.29 per cent to close at ₦21.50 after opening the day at ₦22.70.
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