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Local stock market dips marginally despite uptick in activities

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Amidst mixed sentiments, on Thursday, the Nigerian equities market dips marginally by 0.01 per cent despite uptick in the volume of stocks traded.

Precisely, the All-Share Index settled one basis point lower to close at 44,604.74 basis points. Consequently, the Year-to-Date return was unchanged at +4.4 per cent.

At the Nigerian Exchange Limited (NGX), on Thursday, the sell-offs of Custodian Insurance and Stanbic IBTC Holdings offset investors’ interest in International Breweries.

As measured by market breadth, market sentiment was however positive as 14 tickers gained relative to 13 losers.
On the performance chart, Transnational Corporation and CHI Plc topped the gainers’ list having appreciated by 9.7 and 7.9 per cent respectively, while NEM Insurance and Custodian Insurance recorded the highest losses of the day after depreciating in shares value by 10.0 per cent and 9.5 per cent respectively.

Performance across sub-indices was mixed as the NGX Insurance Index fell by 0.93 per cent while the NGX Banking Index and NGX Consumer Goods Index rose by 0.07 per cent and 0.16 per cent respectively. The NGX Oil/Gas index and the NGX Industrial Index remained unchanged.

Meanwhile, Market activity moved in mixed directions as the volume of stocks traded increased by 20.81 per cent to 321.75 million shares, while the value of stocks traded decreased by 4.37 per cent to N 3.66 billion.

Transnational Corporation remained investors choice as it made the most traded stock by volume at 104.58 million units, while Seplat was the most traded stock by value at NGN920.64 million.

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