THUR, 10 DEC, 2020-theGBJournal- The domestic equities market extended its losing streak for the fourth consecutive trading day, as investors sold off on ZENITHBANK (-6.2%), WAPCO (-10.0%) and FBNH (-10.0%) stocks. Thus, the benchmark index declined by 1.3% to 34,577.26 points.
Accordingly, Month-to-Date loss increased to 1.3% while Year-to-Date gain moderated to 28.8%.
The total volume of trades increased by 95.7% to 553.95 million units, valued at NGN6.64 billion, and exchanged in 6,441 deals. GUARANTY was the most traded stock by volume and value at 87.02 million units and NGN2.83 billion, respectively.
Sectoral performance was negative, following declines across the Banking (-4.1%), Insurance (-3.7%), Consumer Goods (-1.1%), Industrial Goods (-0.7%) and Oil & Gas (-0.7%) indices.
Market sentiment, as measured by market breadth, was negative (0.2x), as 40 tickers declined, relative to 6 gainers. FBNH (-10.0%) and WAPCO (-10.0%) topped the losers’ list, while OKOMUOIL (+10.0%) and MBENEFIT (+9.1%) recorded the largest gains of the day.-With Cordros Research
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