Equities market close week by 0.33%

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By Philemon Adedeji

At the Nigerian Exchange Limited, equities market maintained negative posture as the key market indicator dipped further by 163.72 basis points as sell pressure persists.

The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are Zenith Bank, Computer Warehouse Group and 18 others.

The Nigerian Exchange Limited (NGX), All-Share Index decreased by 0.33 per cent to close at 49,026.62 index points as against 0.47 per cent loss recorded previously to close at 49,190.34 index points points at the end of the last trading session. Specifically, in naira terms market capitalisation value lost N88.31 billion to close at N26.444 trillion.

The total volume traded advanced by 33.38 per cent to close at 169.18million units, exchanged at N3.19 billion and traded in 3,206 deals.

Courtville Business Solution was the most traded stock by volume with 27.68 million units while MTNN was the most traded stock by value which is put at N1.29 billion.

Sectoral performance was broadly negative as ix (6) NGX sector index closed northward, nine (9) closed southward while three (3) closed flat. The NGX Banking Index inched up by 0.85 per cent to top the gainers chart while the NGX Industrial Index dipped by 1.61 per cent to top the losers’ chart.

At the close of trade on Friday, market recorded 11 gainers as against 20 that declined  VITAFOAM topped the list of gainers while Computer Warehouse Group topped the list of losers.

Thus, market breadth closed negative as the Market Breadth Index (MBI) is put at -0.14x.

Vitafoam emerged as the highest price gainer with 6.90 per cent to close at N22.45 per share,  followed by Rt.briscoe which gained 6.06 per cent increase to close at N0.35 per share, While Accesscorp which recorded as the last third gainer rose significantly by 6.02 per cent increase to close at N8.80 per share

Cornest which recorded as the last fourth gainer grew by 3.70 per cent to close at N0.56 per share and Fidelity bank appreciated by 3.00 per cent to close at N3.78 per share

On the other hand, Computer Warehouse Group recorded as the most losers on Friday by 10 per cent to close at N0.81 per share as followed by Berger paint which dipped by 9.85 per cent to close at N5.95 per share, while Eterna Plc dipped by 9.45 per cent to close at N5.15 per share.

Sunu Assurance diminished by 8.57 per cent to close at N0.32 per share and Cham Plc which recorded as the last fifth loser declined by 6.90 per cent to close at N0.27 per share.

Transaction in the share of Courtville Business Solution topped the activities chart with 27.679 million shares worth N12.490 million, followed by NGXGROUP which transacted 24.535 million shares valued at N417.392 million, While Zenith Bank accounted 20.832 million shares valued at N416.750 million.

Transcorp transacted 11.149 million shares worth N11.592 million and Jaizbank traded 10.852 million shares worth N8.659 million.

Courtville Business Solution led the volume’s chart with 16.36 per cent contribution and closely followed by NGXGROUP and ZENITH BANK.

MTNN tops the value’s chart with 40.40 per cent contribution and closely followed by BUACEMENT and NGXGROUP.