The Nigerian Exchange experienced a decline of 0.05 percent in the All-Share Index, extending its bearish trend for five consecutive days. Market capitalisation decreased, and investor sentiment remained weak with negative market breadth. Sector performance was predominantly muted, showing minimal gains while trading activity significantly slowed.
The Nigerian Exchange (NGX) experienced a decline in the All-Share Index, which fell by 0.05 percent to close at 104,858.77 basis points on Thursday, marking the fifth consecutive day of losses. This bearish trend was driven largely by sell-offs in prominent stocks such as Zenith Bank and Access Holdings. Furthermore, the market capitalisation dipped by 0.05 percent, equating to a loss of N35.3 billion, bringing the total to N65.75 trillion.
As a result of the ongoing downturn, Month-to-Date and Year-to-Date returns have reduced to -2.8 percent and +1.9 percent, respectively. Investor sentiment remained pessimistic, reflected by a negative market breadth where 14 stocks advanced while 28 declined. In the gainers’ category were Computer Warehouse Group, Veritas Capital, and Wema Bank, whereas Livestock Feeds and Royal Exchange topped the losers’ list.
The sectoral performance during this trading session was particularly subdued. The Insurance and Consumer Goods sectors saw slight gains of 0.13 percent and 0.39 percent, respectively; in contrast, the banking sector faced a decline of 0.43 percent, with Oil/Gas and others remaining unchanged. Overall trading activity was markedly low, with significant drops in transaction numbers and values recorded.
During the session, there were 10,182 transactions totaling N6.25 billion, with a volume of 310.53 million units traded. Fidelity Bank emerged as the most traded stock in terms of volume with 40.03 million units, while Zenith Bank led by value at N1.07 billion.
In conclusion, the Nigerian Exchange continued its negative trajectory with a slight decline in the All-Share Index for the fifth day, driven largely by significant sell-offs. Investor sentiment appears weak, resulting in reduced trading activity as highlighted by diminished transaction volume and values. The overall sector performance reflects a cautious market environment, with varied outcomes across different sectors.
Original Source: www.zawya.com
