On Wednesday, the Nigerian stock market experienced a downturn, with the NGX All-Share Index (ASI) declining by 0.36 percent to close at 141,248.76 basis points, reducing the year-to-date return to 37.23 percent. Total market capitalization contracted by N324.34 billion to N89.37 trillion. Bearish sentiments in the domestic equities market, was driven by selloff in Guaranty Trust Holding Company, Guinness Nigeria and Zenith Bank, having lost 3.1 in percent, 7.3 percent and 1.0 percent, from their respective share value. Consequently, the Month-to-Date and Year-to-Date returns moderated to +1.0 percent and +37.2 percent, respectively. Market sentiment remained subdued, evidenced by a negative breadth with 16 stocks advancing compared to 40 declining. Standout performers included Deap Capital Management and Trust, Legend Internet Service, Honeywell Flour Mills, Tantalizer and Africa Prudential, while LASACO Insurance, RTBriscoe, Associated Bus Company, Nigerian Exchange Group and Mutual Benefits Assurance were among the notable underperformers. Sectoral performance closed in a mix, with declines in Banking, Insurance and Consumer Goods sectors by 0.76 percent, 3.42 percent and 0.86 percent. The Oil & Gas sector, however, posted a modest gain of 0.18 percent, while the Industrial and Commodity sectors remained flat. The total volume of trades advanced by 12.9 percent to 682.89 million units, valued at N22.22 billion, and exchanged in 28,695 deals. FCMB Group was the most traded stock by volume at 108.48 million units, while Aradel Holdings was the most traded stock by value at N4.10 billion

Copyright © 2022 Nigerian Tribune Provided by SyndiGate Media Inc. (Syndigate.info).