By Philemon Adedeji
Bearish sentiments which persisted on the equity sectors of the Nigerian Exchange Limited (NGX) as as a result of increase in demand of Airtel Africa (+0.63 per cent) and Guaranty Trust Holding Company (+1.03 per cent) were offset by selloffs in Dangote Cement (-1.85 per cent), Zenith Bank (-0.20 per cent) and Geregu Power (-0.14 per cent) resulting to the market’s weak performance.
In Summary, the NGX All-Share Index shed 85.8 absolute points or 0.16 per cent to close at 52,615.51 Index points from 52,701.31 Index points it closed on previous trading day.
As a result, the year-to-date (YTD) return dropped to 2.66 per cent, as market capitalization value dipped by N46.74billion to close at N28.658 trillion from N28.704 trillion it closed for previous trading day.
The market weak performance was due to price depreciation in medium and large capitalized stocks such as FTNCOCOA processor, ABCTRANS, Livestock Feeds, Airtel Africa and 17 others.
Yesterday’s market activities indicated trade turnover settled higher relative to the previous session with the value of transactions up by 0.63 per cent.
At the close of trade yesterday, trade volume declined by 4.6 per cent to close at 217,946,345 million share valued at N4.47 billion were exchanged in 3,377 deals.
The market sentiments as measured by market breadth closed negative as 17 stocks led the gainers, while 21 stocks led the losers.
For the second consecutive session, Sterling Bank (led the volume chart with 94.27 million units traded while GEREGU Power led the value chart in deals worth N1.352 billion.
On the leaders table, Chellaram came as the most price gainer at the close of trade with 9.77 per cent to close at N1.46 per share, closely followed by Consolidated Hallmark Insurance which appreciated by 9.52 per cent to close at N0.69 per share, while Linkages Assurance rose significantly by 9.09 per cent to close at N0.48 per share.
INTENEGINS which recorded as the last fourth gainer grew by 7.89 per cent to close at N0.41 per share.
Mutual Benefit Assurance which recorded as the last fifth gainer went up by 6.67 per cent to close at N0.32 per share.
On the decliners log, FTNCOCOA processor emerged as the highest price loser with 6.67 per cent to close at N0.28 per share, closely followed by Abctrans which depreciated by 6.45 per cent to close at N0.29 per share, while Livestock Feeds which recorded as the last third loser went down by 5.00 per cent to close at N1.14 per share.
Regalins Insurance which recorded as the last fourth loser declined by 3.57 per cent to close at N0.27 per share and Oando Plc which recorded as the last fifth loser dropped by 3.51 per cent to close at N3.85 per share.
Transaction in the shares of Sterling Bank topped the activities chart with 94.270 million shares valued at N145.518 million, followed by Zenith Bank which transacted 16.918 million shares worth N416.080 million, while Guaranty Trust Holding Company traded 13.162 million shares valued at N320.144 million.
Geregu power traded 10.100 million shares worth N1.352 billion, while Access Corporation accounted 9.130 million shares valued at N82.207 million.