Stock market loses N101bn

Trading hall of Nigeria Stock Exchange, Lagos.
Trading hall of the Nigeria Stock hange, Lagos.

In the first trading session of the week, the Nigerian stock market bucked its 7-day positive performance as losses in Dangcem (-2.5%), Seplat (-8.0%) and Wapco (-6.3%) dragged market capitalisation by N101.6bn to settle at N11.5tn.

The All Share Index (ASI) shed 0.9% southwards to settle at 30,732 points consequently leaving the year to date (YTD) loss down to 2.2%

However, activity level strengthened as volume and value traded increased by 66.0% and 47.0% to 499.2bn units and N5.5tn respectively.

The top traded stocks by volume were Diamond (239.4m units), Guaranty (119.3m units) and Zenith (26.1m units) while top traded stocks by value were Guaranty (N3.8bn), Zenith (N563.2m) and Diamond (N497.9m).


Dear valued readers, subscribe to the Daily Trust e-paper to continue enjoying our diet of authoritative news. Kindly subscribe here

Sector performance was mixed yesterday, albeit negatively skewed, as only 2 of 5 sectors under our coverage closed in the green.

The Insurance index advanced the most up 1.5% on the back of gains in NEM (+4.8%), LINKASSURE (+8.9%) and WAPIC (+5.0%).

Similarly, the Industrial Goods index inched northwards by 1.0% following modest gains in CCNN (+7.2%). On the flipside, the Oil and Gas index led the losers, down 4.5% following price depreciation in Seplat (-8.0%) and OANDO (-1.1%) while the banking index closed in the red on the back of losses in Unity (-4.4%) and WEMA (-1.6%).

However, the Consumer Goods index closed flat as trades within the sector were unable to move in index.

Investor sentiment measured by market breadth (advance/decline ratio) weakened to 0.7x as 13 stocks advanced against the 18 stocks that declined.

The top outperforming stocks for the day were LINKASSURE (+8.9%),ABCTRANS (+7.4%) and CCNN (+7.2%), while ETRANZACT (-8.7%), Seplat (-8.0%) and Resortsal (-7.7%) were the top underperforming stocks.

Analysts at Afrinvest said: “We expect today’s performance to persist into tomorrow’s trading session, as we maintain our near-term bearish outlook for the domestic equities market.”

Download Daily Trust News App

Get it on Google Play
Share this article

Join us on

Join our whatsapp group here for Breaking News, Exclusives , others

Complain about a story or Report an error and/or correction: +2348189301900 (Whatsapp and SMS only) Email:

DISCLAIMER: Comments on this thread are that of the maker and they do not necessarily reflect the organizations stand or views on issues.