TUE, 08 DEC, 2020-theGBJournal– The local bourse sustained yesterday’s bearish performance, with the benchmark index recording its fourth loss in five consecutive trading sessions, following sell-offs on ZENITHBANK (-1.3%), ACCESSBANK (-2.4%) and FLOURMILL (-4.5%) stocks.
Precisely, the benchmark index declined by 0.1% to 35,033.74 points. Thus, Month-to-Date return declined to 0.0%, while Year-to-Date gain moderated to 30.5%.
The total volume of trades decreased by 5.1% to 307.72 million units, valued at NGN3.27 billion, and exchanged in 4,507 deals. UBA was the most traded stock by volume and value at 142.44 million units and NGN1.20 billion, respectively.
Performance across sectors was broadly negative, as three of our coverage indices – Banking (-0.3%), Industrial Goods (-0.1%) and Consumer Goods (-0.1%) – closed in the red. The Insurance (+0.5%) and Oil & Gas (+0.3%) indices recorded gains.
Market sentiment, as measured by market breadth, was negative (0.8x), as 17 tickers declined, relative to 14 gainers. REGALINS (-8.3%) and WAPIC (-4.8%) recorded the largest losses of the day, while FTNCOCOA (+9.7%) and ROYALEX (+9.5%) topped the gainers’ list.
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