NGX Index down 0.47%, amid sell-offs
By Philemon Adedeji
Bearish sentiments drove the domestic equities today as the NGX All-Share Index closed at 0.47 per cent lower to 64,625.28 basis points, marking its third successive session decline caused by selloffs in Telco heavyweight, AIRTEL AFRICA (-5.30 per cent), alongside GTCO (-0.53 per cent) and ACCESS CORPORATION (-0.59 per cent) underpinned the market’s weak performance.
Consequently, as a result, the year-to-date (YTD) return fell to 26.10 per cent, while the market capitalisation gained N13.28 billion to close at N35.37 trillion.
The breakdown of yesterday market performance showed trade turnover settled higher relative to the previous session, with the value of transactions up by 59.99 per cent.
The trade volume increased by 4.0 per cent to close at 291, 714,158 million shares valued at N7.432 billion were exchange at 6,213 billion.
The market sentiment as measured by market breadth close negative with 18 stocks recorded on the gainers chart as against 22 stocks that declined on the losers chart.
Eterna Oil came as the most price gainer with 10.00 per cent increased to close at N17.60 per share, followed by Computer Warehouse Group which rose by 8.61 per cent to close at N3.28 per share, while FTNcocoa Processor went up by 6.97 per cent to close at N2.15 per share.
Livestock which emerged as the last fourth gainer grew by 5.56 per cent to close at N1.90 per share, while Vitafoam which recorded as the last fifth gainer appreciated by 4.78 per cent to close at N21.90 per share.
On the other hand, Nem Insurance led the losers chart with 10.00 per cent to close at N5.40 per share, closely followed by Sunu Assurance which shed 8.51 per cent to close at N0.86 per share, while Guinea Insurance dipped by 7.89 per cent to close at N0.35 per share.
Cornerstone Insurance which recorded as the last fourth loser suffered 7.09 per cent to close at N1.31 per share.
Transaction in the shares of Guaranty Trust Holding Company topped the activities chart with 41.746 million shares valued at N1.552 billion, followed by Universal Insurance which traded 22.841 million shares valued at N5.169 million, while United Bank for Africa transacted 22.553 million shares worth N315.379 million.
Sterling financial holdings traded 21.642 million shares valued at N76.981 million, while Transnational Corporation accounted 15.703 million shares worth N62.652 million.
