TUE 30 NOV, 2021-theGBJournal- Profit-taking activities continued today in the Nigerian equities market as selloffs in banking stocks – GTCO (-1.4%), UBN (-6.2%), and ZENITHBANK (-1.0%) drove the benchmark index lower.
The All Share Index declined by 0.1% to 43,248.05 points consequently, with the Month-to-Date and Year-to-Date gains moderating to +2.9% and +7.4%, respectively.
The total volume of trades increased by 5.5% to 224.91 million units, valued at NGN3.71 billion, and exchanged in 4,331 deals. ACCESS was the most traded stock by volume at 42.18 million units, while ZENITHBANK was the most traded stock by value at NGN935.40 million.
Sectoral performance was mixed as the Insurance (+1.6%) and Banking (+0.3%) indices gained while the Oil & Gas (-0.4%) and Consumer Goods (-0.2%) indices recorded declines. The Industrial Goods index closed flat.
As measured by market breadth, market sentiment remained negative (0.5x), as 23 tickers lost relative to 11 gainers. UPDCREIT (-9.9%) and IKEJAHOTEL (-9.6%) recorded the most significant losses of the day, while AIICO (+9.2%) and ACCESS (+4.4%) topped the gainers’ list.
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