On Thursday, the depreciation of Honeywell Flour, MTN Nigeria, Ecobank, and ten other stocks pushed the Nigerian Exchange (NGX) Limited from the bulls’ territory into the danger zone by 0.01 percent.
The stock market could not maintain the positive moment it recorded on the last day of the previous month due to the selling pressure on the equities mentioned above, though investor sentiment remained strong.
According to bourse data, the market breadth was positive yesterday, with 15 price advancers and 13 price decliners led by Honeywell Flour, which fell 7.89% to trade at N2.10. RT Briscoe fell 7.41 percent to 25 Kobo, Wema Bank fell 5.45 percent to N3.12, FCMB fell 4.18 percent to N3.21, and Cutix fell 2.84 percent to N2.05.
UPDC REIT led the gainers’ list, increasing its share value by 9.09 percent to N3.00, while McNichols increased by 8.93 percent to 61 Kobo, Japaul increased by 7.41 percent to 29 Kobo, Nigerian Breweries increased by 7.14 percent to N45.00, and Royal Exchange increased by 4.76 percent to 66 Kobo.
Yesterday, investors traded 172.9 million shares worth N2.8 billion in 3,073 transactions, compared to 107.0 million shares worth N1.3 billion traded in 3,227 transactions in the midweek session, representing a 4.77 percent decrease in the number of transactions, a 61.55 percent increase in trading volume, and a 115.63 percent increase in trading value.
The 49.8 million shares of FCMB traded by investors during the session contributed to the increase in market turnover. Courteville sold 16.9 million shares, Access Holdings sold 12.0 million shares, UBA sold 10.8 million shares, and Zenith Bank sold 9.8 million shares.
According to Entrepreneurng, the insurance and energy counters fell by 0.12% and 0.8%, respectively, while the banking and consumer goods sectors rose by 2.16 percent and 0.77 percent, respectively, with the industrial goods space closing flat.
The All-Share Index (ASI) fell 3.40 points to 47,656.64 points, down from 47,660.04 points, and market capitalisation fell N2 billion to N25.957 trillion, down from N25.959 trillion.
