On Thursday, the Nigerian Exchange’s All-Share Index fell by 0.05% to 104,858.77 points, marking a five-day decline influenced by sell-offs in major banks. Market capitalization decreased by 0.05%, with weak investor sentiment observed. Trading activity was subdued, with a notable drop in transaction volumes and values.
The Nigerian Exchange (NGX) experienced a decline during Thursday’s trading session, with the All-Share Index dropping by 0.05 percent, leading to a closing value of 104,858.77 basis points. This marks the fifth consecutive session of bearish performance, primarily influenced by sell-offs in key stocks such as Zenith Bank and Access Holdings, resulting in a market capitalization decrease of 0.05 percent to N65.75 trillion, equating to a loss of N35.3 billion.
As a result, the Month-to-Date and Year-to-Date returns shifted to -2.8 percent and +1.9 percent, reflecting investor sentiment that remains weak, evident from a negative market breadth where 14 stocks advanced while 28 declined. Prominent gainers included Computer Warehouse Group, Veritas Capital, and Wema Bank, while Livestock Feeds and Royal Exchange occupied the losers’ chart.
Sector performance displayed minimal activity with slight positive movements in Insurance and Consumer Goods sectors gaining 0.13 percent and 0.39 percent, respectively, whereas the banking sector fell by 0.43 percent, and the Oil/Gas, Industrial Goods, and Commodity sectors remained unchanged.
Trading activity was notably subdued; trading volume, total transactions, and transaction value saw declines of 15.23 percent, 77.28 percent, and 49.51 percent, respectively. The total recorded transactions reached 10,182 with a combined value of N6.25 billion and 310.53 million units exchanged. Fidelity Bank dominated trading by volume with 40.03 million units, while Zenith Bank led in trading value at N1.07 billion.
In summary, the Nigerian equities market continues to experience a bearish trend as indicated by the decline in the All-Share Index and a decrease in market capitalization. Investor sentiment remains negative, influenced by a larger number of declining stocks. Trading activity has also significantly diminished, reflecting caution among investors. These factors contribute to the ongoing pressure on the market’s performance.
Original Source: www.zawya.com
