Market extends loss for seventh session, Bank stocks most actively traded

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market update
market update

The Nigerian market ended in the red for the seventh session on a glooming Tuesday, as the All-Share Index fell over 1000 points to finish at 41,708.15 away from the previous session’s close of 42,373.89, while the Market capitalsation  shed about N370billion  to stand at N14.96 trillion below the previous N15.337 it closed on Monday. This 2.41% loss brings the market’s Year-to-Date return lower to 9.06%. The NSEASI has so far lost 8.12% from its most recent high of 45,092.83pts on January 19, 2018.

Turnover volume of 470.5million recorded on Tuesday was 9.07% lower against the 517.4million units of shares traded on Monday, as the total value of trade dropped by 28.97% from N5.185 billion to N3.682 billion in the corresponding trading session.

Sector Performance

All sectorial index closed in the red also, with the banking basket losing 0.20%. Few banking stocks closed in the red and few closed with marginal gains.

The Bearish sentiments witnessed in most medium and big cap stocks  like NESTLE, which lost -2.94%, Nigerian Breweries,  which lost -3.91%, with DANGFLOUR and GUINNESS recording the highest losses of 4.73% and 4.55% respectively drags the Consumer Goods Sector index to 2.83%  loss at the close of trades on Tuesday.

Industrial Goods Sector Declines by 1.61% following the selling pressure witnessed by the sectors’ bellwether Dangote cement, which shed -4.89% of its share value, and most stocks in the sector maintained their previous close prices.

NSE Insurance and Oil & gas both also closed negative with 1.46% and 0.61% respectively.

 

MARKET BREADTH

Market breadth closed negative with ONLY 15 stocks advancing in prices and 41 stocks closed declined while 46 stocks’ prices closed flat.

AGLEVENTE closed 61kobo to lead the percentage gainers at 7.02% growth for the day , followed by BERGER PAINT which grew 5% to close at N9.45. Others on the list are ETERNA OIL gained 4.9%, NAHCO gained 4.85%, LINKAGE ASSURANCE and ACCESS BANK both gained 4.55% and 390% respectively.

PERCENTAGE GAINERS

On the losers’ list are PRESTIGE, lost 7.14%, SKYE BANK lost 6.54% and HALLMARK INSURANCE lost 6.06%. FCMB and UBA are among the losing stocks with 5.90% and 5.51% respectively.

PERCENTAGE LOSERS

Active trading were witnessed more across banking counters as banking stocks dominated activity chart leading in deals, volume and value of transaction.

FBNH led the deal’s list exchanging hands 674 times, DIAMOND Bank traded most volumes of share at 67.697milion units while ZENITH Bank attracted more funds with its shares worth N476.527million traded within the day.

 

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