Negative sentiments drag stock market index further by 0.06%

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Bearish sentiment on the nation’s bourse persisted at the close of transactions yesterday, as 15 stocks dragged the All-Share Index (ASI) further by 0.06 per cent.

Specifically, the ASI fell by 15.19 points or 0.06 per cent to 26,583.75 points. Accordingly, investors lost N7 billion in value as market capitalisation dropped to N12.941 trillion.

The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which were; Custodian Investment, Flour Mill Nigeria, Ecobank Transnational Incorporated (ETI), United Bank for Africa (UBA), and Fidson Healthcare.

Capital market analysts noted that the stock market experienced losses on negative sentiments and selloffs as revealed by trade patterns. However, the loss momentum was seemingly slower in pace.

Market breadth closed negative, with eight gainers against 15 losers. Learn Africa recorded the highest price gain of 9.82 per cent to close at N1.23 per share. Livestock Feeds followed with 9.30 per cent to close at 47 kobo, and United Capital 7.50 per cent to close at N2.15, per share.

Associated Bus Company rose 5.26 per cent to close at 40 kobo, while Wema Bank gained 3.45 per cent to close at 60 kobo, per share. 

On the other hand, Wapic Insurance led the losers’ chart with 8.57 per cent to close at 32 kobo, per share. Linkage Assurance followed with 7.84 per cent to close at 47 kobo, while Custodian Investment fell 5.83 to close at N5.65, per share. 

Honeywell Flour Mills lost five per cent to close at 95 kobo, while Royal Exchange shed 4.76 per cent to close at 20 kobo, per share.

Also, total volume traded fell 38.54 per cent to 363.26 million shares worth N19.017 billion, traded in 2,650 deals. 
Furthermore, investors traded shares valued at N19.017 billion on the Nigerian Stock Exchange (NSE).

Transactions in the shares of Dangote Cement topped the activity chart with 114.69 million shares valued at N16.63 billion. Access Bank followed with 80.66 million shares worth N592.73 million.
   
FCMB Groups traded 51.64 million shares valued at N82.63 million.
   
Zenith bank traded 17.51 million shares at N314.69 million, while African Alliance Insurance transacted 16.71 million shares worth N3.34 million.

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