SAT MAY 18 2024-theGBJournal|The Nigerian stock market primarily demonstrated a bearish trend in 4 out of 5 trading sessions this week, as Market Capitalization depreciated 0.10% to N55.508 trillion.
Despite a rebound on the penultimate trading day driven by renewed interest in AIRTELAFRI (+9.0%), the gains were not enough to offset the losses witnessed in SEPLAT (-10.0%), TRANSCOHOT (-9.7%) and UBA (-9.3%).
Thus, the ASI recorded a 0.1% w/w decline to close at 98,125.73 points. Consequently, the Month-to-Date and Year-to-Date returns settled at -0.1% and +31.2%.
All other indices finished lower with the exception NGX Main Board, NGX Lotus II, NGX Industrial Goods and NGX Pension Broad which appreciated by 0.97%, 0.58%, 0.01% and 0.12% while the NGX ASeM and NGX Sovereign Bond indices closed flat.
Trading activity in the week was weak, as the total trading volume and value decreased by 24.5% w/w, and 15.8% w/w, respectively.
Trading in the top three equities namely Custodian Investment Plc, Guaranty Trust Holding Company Plc and Access Holdings Plc (measured by volume) accounted for 500.343 million shares worth N11.768 billion in 6,551 deals, contributing 30.29% and 27.57% to the total equity turnover volume and value respectively.
Sectoral performance reflected the overall market sentiment, with declines in the Oil and Gas (-6.5%), Banking (-5.3%), Insurance (-4.0%) and Consumer Good (-1.3%) indices. The industrial Goods index remained unchanged.
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