Wednesday, August 17, 2022

Negative sentiment keeps trading negative at stock exchange

The market breadth was negative as 13 stocks gained while 22 declined.

• July 21, 2022
Stock Market
Nigerian Stock Market trade floor (Photo Credit: Bloomberg)

The domestic equity market further closed on a negative sentiment on Thursday as market capitalisation decreased by N34.79 billion to N21.107 trillion from N28.142 trillion posted on Wednesday.

The decline was as a result of investors’ profit-taking in some largely capitalised stocks which included United Bank for Africa (UBA), International Breweries, WAPCO, amongst others

Similarly, the Nigeria Exchange Ltd. All-Share Index (NGX-ASI) decreased further by 0.12 per cent to 52,122.00 points from 52,186.52 points recorded on Wednesday.

Consequently, this  indicated a year-to-date (YTD) return increase of 22.02 per cent.

Meanwhile, the market breadth was negative as 13 stocks gained while 22 declined.

Multiverse Mining and Exploration recorded the highest price gain of 9.55 per cent to close at N1.95 per share.

Cornerstone Insurance followed with a gain of 9.09 per cent to close at 72k per share, while Regent Alliance Insurance rose by eight per cent to close at 27k per share.

AIICO rose by 4.92 per cent to close at 64k, while Learn Africa gained four per cent to close at N2.60 per share.

On the other hand, International Breweries led the losers’ chart by 9.17 per cent  to close at  N4.95 per share.

Caverton Offshore Technology Company and RTBricsoe depreciated by 8.80 per cent  and 8.33 per cent each to close at N1.14 and 44k per share, respectively.

Chams followed with a decline of 6.41 per cent to close at 25k per share while LASACO lost 7.34 per cent to close at N1.01 per share.

The total volume of stocks  traded was 151.943 million units, valued at N2.157 billion, and exchanged in 3,447 deals.

Transactions in the shares of Guaranty Trust Holding Company (GTCO) led the volume chart with 33.85 million shares valued at N707.71 million.

UBA followed with 14.24 million shares worth N105.39 million, while UACN traded 12.47 million shares valued at N139.26 million.

Accesscorp traded 10.36 million shares valued at N94.09 million, while Zenith Bank transacted 9.49 million shares valued at N207.89 million. 


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