TUE 22 MARCH, 2022-theGBJournal| For the fourth consecutive session, the NGX Exchange maintained the downward trend as the All-Share index closed 0.20% weaker to close at 47,156.56 points, the lowest level since 8 March 2022.
Selloffs in index heavyweight, NESTLE (-2.79%) drove the market into the red. In addition, UBA (-1.94%), GTCO (-0.57%), WAPCO (-1.25%) and ZENITHBANK (-0.19%) sustained losses offsetting gains in FBNH (+0.84%) and ACCESS (+0.51%).
Consequently, the year-to-date (YTD) return fell to 10.39%, while the market capitalization shed N51.40bn to close at N25.41trn.
The total volume of trades increased by 42.1% to 303.48 million units, valued at NGN3.90 billion, and exchanged in 4,616 deals. ACCESS was the most traded stock by volume at 44.15 million units, while ZENITHBANK was the most traded stock by value at NGN758.01 million.
Performance across sectors under our coverage was negative, as the Consumer Goods (-1.6%), Insurance (-1.4%), Oil & Gas (-1.0%), Banking (-0.4%) and Industrial Goods (-0.1%) indices printed losses.
As measured by market breadth, market sentiment was negative (0.6x), as 27 tickers lost relative to 16 gainers. CHAMPION (-8.8%) and OANDO (-6.8%) topped the losers’ list, while NPFMCRFBK (+9.5%) and FCMB (+7.9%) recorded the most significant gains of the day.
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