Nigerian equities market drops by 0.2% on profit-taking activities in First Holdco, others
The Nigerian equities market closed on a bearish note as profit-taking activities in First Holdco (-5.1per cent), ETI (-2.7per cent), Stanbic (-1.2per cent), and Unilever (-4.1per cent) dragged the All-Share Index lower by 0.2per cent to 250,273.50 basis points.
Consequently, the Month-to-Date and Year-to-Date returns settled at -0.4per cent and +60.8per cent, respectively.
The total volume traded declined by 33.8per cent to 579.25 million units, valued at N36.07 billion, and exchanged in 41,072 deals. Access Holdings was the most traded stock by volume at 192.58 million units, while Aradel Holdings Plc was the most traded stock by value at N7.63 billion, respectively.
Sectoral performance was mixed as the Banking (-1.3per cent) index declined, while the Insurance (+0.5per cent) index advanced. Furthermore, the Consumer Goods, Industrial Goods and Oil & Gas indices closed flat.
As measured by market breadth, market sentiment was negative (0.8x), as 26 tickers gained relative to 34 losers. ABC Transport Plc (-9.7per cent and CWG (-7.2per cent) led the losers, while Tripple G (+9.8per cent) and Livestock (+9.7per cent) posted the most significant gains of the day.
