WED MAY 08 2024-theGBJournal| The Nigerian equities market traded with mixed sentiments Wednesday as losses in WAPCO (-5.4%) and ZENITHBANK (-2.6%) offset a gain in MTNN (+2.3%).
Thus, the All-Share Index traded flat at 98,223.97 points. As a result, the Month-to-Date return was flat, while the Year-to-Date return remained at +31.4%.
The total volume traded declined by 25.0% to 319.08 million units, valued at N9.18 billion, and exchanged in 8,121 deals.
UBA was the most traded stock by volume at 79.98 million units while MTNN was the most traded by value at N2.56 billion.
On sectors, the Banking (-1.0%), Consumer Goods (-0.3%), Industrial Goods (-0.2%) and Insurance (-0.2%) indices printed losses while the Oil & Gas index closed flat.
As measured by market breadth, market sentiment was negative (0.7x), as 19 tickers lost relative to 13 gainers. PZ (-10.0%) and INTBREW (-9.9%) recorded the highest losses of the day, while OKOMUOIL (+10.0%) and TANTALIZER (+8.3%) topped the gainers’ list.
Meanwhile, the Naira continued with its weak performance against the US dollar, falling further by 0.3% to N1,421.06/USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM). On Tuesday, the currency closed at N1,416.57/US$ at the official market.
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