Stock market closes negative amid profit taking, down 0.44%
By Philemon Adedeji
Opening the week, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) relapsed by 289 basis points or 0.44 per cent to close at 65,036.37 points driven by profit taking in ZENITH BANK (-2.57 per cent), GTCO (-0.79 per cent) and STANBIC IBTC (-0.69 per cent) offset demand for WAPCO (+0.18 per cent), DANGOTE SUGAR (+4.55 per cent) and Ecobank Transnational Incorporation (ETI) (+2.22 per cent), which drove the weak performance.
As a result, the ASI’s year-to-date (YTD) return decreased to 27.24 per cent, while the market capitalisation lost N62.55 billion to close at N35.415 trillion.
Analysis of yesterday’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 49.72 per cent
TRANSCORP (+2.83 per cent) led the volume chart with 41.76 million units traded while GTCO (-0.79 per cent) led the value chart in deals worth N15.57 billion.
The trade volume decreased by 47.1 per cent to close at 259,041,152 million share were exchange in 5,899 deals.
On the price gainer chart, Cornerstone Insurance led the table with 9.32 per cent to close at N1.29 per share, followed by Omatek Venture which rose by 8.82 per cent to close at N0.37 per share, while TIP went up by 8.51 per cent to close at N1.02 per share.
Cham Holdings which recorded as the last fourth gainer appreciated by 7.37 per cent to close at N1.02 per share.
RT.briscoe which came as the fifth gainer grew by 6.98 per cent to close at N0.46 per share.
On the other side, Eterna Oil came as the most price loser which dipped by 9.90 per cent to close at N17.75 per share, closely followed by Sunu Assurance which suffered 9.57 per cent to close at N1.04 per share, while UPL lost 9.24 per cent to close at N2.26 per share.
FTNCocoa processor which emerged as the last fourth loser went down by 8.44 per cent to close at N2.06 per share.
Okomu Oil which recorded as the last fifth loser shed 5.66 per cent to close at N250.00 per share.
Transaction in the shares of Transnational Corporation tooped tge activities chart with 41.760 million shares worth N167.930 million, Access Corporation which trail behind traded a volume of 18.155 million shares value at N312.692 million, while Guaranty Trust Holding Company transacted 15.566 million shares worth N585.099 million.
Sterling financial holdings accounted 14.186 million shares worth N50.996 million.
United Bank for Africa traded 13.009 million shares valued at N185.375 million.
