NSE daily turnover plunges 54% as market CAP sheds N15bn
It was a grossly bearish session for equities investors trading on the floor of the Nigerian Stock Exchange (NSE) on Wednesday following multiple negative fronts recorded at the end of the session.
As the market sustained its downtrend with additional N15 billion loss triggered by accelerated profit-taking charge, the market benchmark index contracted by 0.07 per cent to close at 40,465.32 basis points while aggregate equities value closed lower at N21.169 trillion.
Trailing the negative path, turnover for the session was on the low side compared with the previous session as volume and value traded shrivel by -41.49 per cent and -53.92 per cent respectively.
Trading statistics revealed that the loss of the day was propelled by BUACEMENT (-1.8 per cent), GUINNESS (-3.4 per cent) and ACCESS (-1.8 per cent) stocks weighing down the bourse. Sequentially, the Month-to-Date (MtD) loss increased to 4.6 per cent, while the Year-to-Date (YtD) gain moderated to 0.5 per cent.
Sectoral performance was mixed, following declines across the Industrial Goods (-0.8 per cent), Banking (-0.2 per cent) and Consumer Goods (-0.1 per cent) indices, and gains in the Insurance (+1.9 per cent) and Oil & Gas (+0.2 per cent) indices.
Market sentiment, as measured by market breadth, was negative (0.8x), as 21 tickers declined, relative to 17 gainers.
JBERGER5, led the gainers with N1.8 gain to close at N20.30 per share, followed by Living Trust, gaining N0.06 to close at N0.68 per share. Other gainers are HONYFLOUR, CORNERST and UPDREIT with N0.12, N0.05 and N0.04 gains to close the session at N1.37, N0.59 and N5.40 per share respectively.
On the contrary, BeteGlass shed N5.40 to top the decliners’ chart and close at N 50 per share. Japaul Gold trailed with N0.07 loss to close at N0.72 per share while FIDSON, CHIPLC and VITAFOAM declined by N0.50, N0.03 and N0.65 to close at N5.35, N0.35 and N7.95 per share respectively.
At the end of the midweek session, investors collectively traded 244.2 million shares valued at N2.654 billion in 4,083 deals as against 356.43 million shares worth N5.76 billion that exchanged hands in 5,040 transactions in the previous session.