MON MAY 13 2024-theGBJournal|The Nigerian equities market opened the week’s trading on a bearish note as sell pressures on SEPLAT (-10.0%) and UBA (-10.0%) undermined market performance.
The NGX ASI fell by 0.5% to close at 97,709.38 points as a result with the Month-to-Date and Year-to-Date returns printing at -0.5% and +30.7%, respectively.
The total volume of trades increased by 27.5% to 439.10 million units, valued at N11.38 billion, and exchanged in 8,607 deals.
NOTORE was the most traded stock by volume and value at 74.43 million units and N4.65 billion, respectively.
Performance across the sectors mirrored the overall market sentiment, as the Oil & Gas (-5.9%), Banking (-0.8%), Insurance (-0.6%) and Consumer Goods (-0.3%) indices posted losses while the Industrial Goods index closed flat.
As measured by market breadth, market sentiment was negative (0.8x), as 24 tickers lost relative to 18 gainers.
SEPLAT (-10.0%) and PZ (-9.9%) topped the losers’ list, while TANTALIZER (+8.7%) and STERLINGNG (+5.4%) recorded the highest gains of the day.
Meanwhile, the naira depreciated by 0.8% to NGN1,478.11/USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
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