NGX equities market closed week on a negative note

Coronation Research reported that the Nigerian equities market closed the week on a negative note, as the NGX All-Share Index (ASI) declined by 0.52% w/w to close at 250,808.27 points, while market capitalisation fell by 1.10% w/w to settle at N162.84trn. 

According to the report “This brought the ASI year-to-date return to 61.17% from 62.01% in the previous week. The negative sentiment was driven by losses in ACCESSCORP (−3.33% w/w), GTCO (−3.07% w/w) and MTNN (−2.67% w/w), which outweighed gains recorded in FIDELITYBK (+8.80% w/w), WEMABANK (+1.95% w/w) and UBA (+0.22% w/w).

“Sectoral performance was mixed this week, with three of the five indices closing lower. The Banking index led the decliners (−1.33% w/w), followed by Consumer Goods (−0.91% w/w) and Industrial (−0.26% w/w), while Insurance (+0.61% w/w) and Oil & Gas (+0.05% w/w) closed higher.

“In today’s session, the NGX ASI and market capitalisation declined by 0.16%. This negative sentiment was driven by losses in NGXGROUP (−6.85%) and FIRSTHOLDCO (−6.16%), and FCMB (-3.06%) which outweighed gains in GTCO (+0.61%), ZENITHBANK (+0.37%), and MTNN (+0.36%).

“Market activity was weak, as total volume traded declined by 46.92% to 549.57mn units and value traded fell by 49.67% to N27.00bn, while the number of deals rose by 19.78% to 53,264. ACCESSCORP (+0.33%) led the volume chart with 183.56mn units traded, while MTNN (+0.36%) topped the value chart with transactions worth N3.35bn.

“Market breadth was positive at 1.00x, reflecting equal number of advancers relative to decliners. TRANSEXPR (+10.00%) emerged led the thirty-one (31) gainers, while PZ (−9.91%) led the thirty-one (31) losers.”