MON APRIL 29 2024-theGBJournal| The Nigerian stock market kicked off on a bearish note as sell pressures on GTCO (-7.9%), DANGSUGAR (-10.0%), SEPLAT (-2.3%) and ZENITHBANK (-4.0%) undermined market performance.
The All-Share Index fell by 0.2% to close at 97,962.24 points consequently. And the Month-to-Date and Year-to-Date returns settled at -6.3% and +31.0%, respectively.
The total volume of trades increased by 4.6% to 277.24 million units, valued at NGN5.08 billion, and exchanged in 8,714 deals. UBA was the most traded stock by volume and value at 34.56 million and NGN799.45 million, respectively.
Sectoral performance was broadly negative, as the Consumer Goods (-0.8%), Insurance (-0.7%) and Banking (-0.4%) indices printed lower while the Industrial Goods and Oil & Gas indices closed flat.
As measured by market breadth, market sentiment was positive (1.3x), as 24 tickers gained relative to 19 losers. STERLINGNG (+10.0%) and FBNH (+9.8%) topped the gainers’ list, while DANGSUGAR (-10.0%) and NSLTECH (-10.0%) recorded the most significant losses of the day.
The naira depreciated by 5.6% to NGN1,419.11/USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
X-@theGBJournal|Facebook-the Government and Business Journal|email:gbj@govbusinessjournal.com|govandbusinessj@gmail.com
