The Nigerian equities market began the week on a soft note, extending its bearish momentum as sustained profit-taking weighed on overall performance.

The All-Share Index (ASI) of the Nigerian Exchange (NGX) fell by 0.08 per cent to close at 143,614.61 basis points, dragging the year-to-date return down to 39.53 per cent from 39.64 per cent in the previous session.
Market capitalisation also declined to N91.35 trillion, representing an estimated N68.7 billion loss in investor wealth.

Market sentiment remained broadly negative, reflected in a weak market breadth of 17 gainers against 26 losers. Losses in heavyweight counters such as United Bank for Africa, Transnational Corporation, and Sterling Financial Holdings Company overshadowed gains in Unilever Nigeria, eTranzact International, and Access Holdings.

Sectoral performance was mostly downbeat. The Banking, Insurance, Consumer Goods, and Oil & Gas indices recorded declines of 0.45 per cent, 0.79 per cent, 0.02 per cent, and 0.17 per cent, respectively. The Industrial Goods and Commodity indices ended the session unchanged.

Despite the negative price movement, trading activity strengthened significantly. The number of deals, traded volume, and traded value increased by 26.65 per cent, 4.04 per cent, and 10.75 per cent, respectively, closing at 23,864 deals, 683.41 million units, and N28.37 billion.

On a session-level basis, turnover improved further as investors exchanged 694.78 million shares valued at N28.67 billion in 24,041 deals.

Guaranty Trust Holding Company emerged as the most actively traded stock by both volume and value, recording 203.85 million units worth N17.24 billion. Meanwhile, Nigerian Police Force Microfinance Bank led the losers’ chart, followed by 28 other declining stocks, while eTranzact International topped the gainers’ table alongside 16 advancing stocks.

Analysts note that market sentiment remains cautious, with bargain hunters selectively positioning while broader activity continues to reflect persistent profit-taking pressure.

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