FCMB, CHAMS, others cause negative performance of equities market

By Philemon Adedeji

At the Nigerian Exchange Limited (NGX), the equities market closed on  negative posture as the key market indicator decreased in advanced by 45.19 basis points amid positive market breadth.

The NGX All-Share Index dipped by 0.09 per cent to close at 49,599.73 index points as against 0.69 per cent loss recorded to close at 49,644.92 index points at the end of the previous trading session. Specifically, the market capitalisation value lost N24.38 billion.

The total volume traded declined by 7.23 per cent to close at 128.94 million units, valued at N1.69 billion and traded in 3,426 deals.

Sectoral performance was broadly negative as four (4) NGX sector index closed northward, ten (10) closed southward while four (4) closed flat. The NGX MERIGRW Index inched up by 0.26 per cent to top the gainers chart while the NGX MERIVAL Index dipped by 0.93 per cent to top the losers’ chart.

Market sentiments as measured by market breadth was positive as 15 stocks dominated the gainers while 13 stocks dominated the losers.

Thus, market breadth closed positive as the Market Breadth Index (MBI) is put at 0.03x.

On the gainers table, PZ Cusson was recorded as the highest price gainer with 9.76 per cent to close at N9 per share, as followed by NPF Microfinance Bank which rose by 4.58 per cent to close at N1.60 per share while UACN appreciated by 3.64 per cent to close at N11.40 per share.

Abctrans which recorded as the last fourth gainer grew up by 3.57 per cent to close at N0.29 per cent and Japaulgold rose by 3.45 per cent to close at N0.30 per share.

On the other hand, Chams emerged as the highest price loser at the close of trade yesterday by 10 per cent to close at N0.27 per share, as FCMB followed by 8.02 per cent decline to close at N3.21 per share, while Mcnichols dipped by 7.46 per cent to close at N0.62 per share.

FTNcocoa processor dropped by 6.67 per cent to close at N0.28 per share and Cornest which recorded as the last fifth loser dropped by 6.06 per cent to close at N0.62 per share.

Transaction in the shares of Sterling Bank topped the activities chart with 26.850 million shares valued by N39.610 million, followed by Zenith Bank which traded 10.188 million shares worth N205.203 million while Guaranty Trust Holding Company transacted 9.304 million shares valued by N184.480 million.

Ecobank Transnational corporation accounted 7.615 million shares valued by N83.776 million and Fidelity bank accounted 6.206 million shares worth N21.159 million

STERLNBANK was the most traded stock by volume with 26.85 million units traded while MTNN was the most traded stock by value which is put at N495.49 million.

STERLING BANK led the volume’s chart with 20.82 per cent contribution and closely followed by ZENITH BANK and GTCO.

MTNN tops the value’s chart with 29.70 per cent contribution and closely followed by Zenith Bank and Guaranty Trust Holding Company.