Zenith Bank, GTCO, 25 others halt positive performance of stock market
By Philemon Adedeji
Transaction on the Nigerian Exchange Limited (NGX) closed on a bearish sentiments as tier-1 bank investor halted positive performance of stock market which includes ZENITH BANK (-1.79 per cent), GTCO (-0.95 per cent) and STANBIC IBTC (-0.16 per cent) offset demands for WAPCO (+2.11 per cent), United Bank for Africa (UBA) (+0.73 per cent) and DANGOTE SUGAR (+1.48 per cent), driving the weak performance.
Consequently, the NGX All-Share Index ( ASI) relapsed by 50.81 basis points or 0.10 per cent to close at 66,439.53 index points from 66,490.34 index points it close trade on Tuesday.
The market downturn performance was impacted by depreciation which includes, Zenith bank, Guaranty Trust Holding Bank, Stanbic ibtc among others.
As a result, the ASI’s year-to-date (YTD) return decreased to 29.64 per cent, while the market capitalisation lost N27.81 billion to close at N36.362 trillion.
Analysis of yesterday’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 11.08 per cent.
The trade volume increased by 45.8 per cent to close at 637,193,765 million share worth N7.790 billion were exchanged in 10,033 deals.
Market breadth closed negative, with 27 stocks appreciating in value while 24 stocks depreciated. Capital Hotel and Consolidated Hallmark Insurance led the pack of gainers with a remarkable 10.00 per cent each increased to close at N2.75 and N1.10 per share each, Conversely UPL rose by 9.77 per cent to close at N2.36 per share.
Champion Breweries which emerged as the last fourth gainer grew by 9.72 per cent to close at N3.50 per share while Thomaswy which came as last fifth gainer went up by 9.60 per cent to close at N2.17 per share.
On the other hand, Transnational Corporation which led the losers chart went down by 9.99 per cent to close at N6.31 per share, followed closely by Computer Warehouse Group which shed 9.88 per cent to close at N3.65 per share, while Ikeja Hotel dipped by 9.84 per cent to close at N2.84 per share.
Ftncocoa Processor which came as the last fourth loser depreciated by 8.11 per cent to close at N2.04 per share
Rt.briscoe which recorded as the last fifth loser dropped by 6.67 per cent to close at N0.42 per share.
Transaction in the shares of Transnational Corporation topped the activities chart with 292.409 million shares worth N2.14 billion, closely followed by Access Corporation which transacted 26.652 million shares valued at N435.491 million, while Dangote Sugar traded 24.452 million shares worth N1.454 billion Jaiz bank sold 18.662 million shares worth N27.723 million.
Fidelity Bank accounted 17.386 million shares valued at N122.281 million.
