THUR, OCT 19 2023-theGBJournal| Nigerian equities market turned negative as the benchmark index lost 0.38% to close at 67,098.80
Investors took profits off STANBIC (-8.5%), and demand in GTCO (+0.71%) was not sufficient to offset selloffs in index heavyweights, MTNN (-0.20%) alongside NESTLE (-0.49%) and ZENITHBANK (-0.75%) putting the market in the red.
The negetive market sntiment put the market on track for another week of loss.
The Month-to-Date and Year-to-Date returns consequently moderated to +1.1% and +30.9%, respectively.
The total volume of trades also decreased by 24.9% to 298.69 million units, valued at N4.48 billion, and exchanged in 5,453 deals.
UBA was the most traded stock by volume and value at 56.29 million units and NGN1.05 billion, respectively.
Analysing by sectors, the Insurance (-1.1%), Banking (-1.0%), and Consumer Goods (-0.3%) indices declined while the Industrial Goods and Oil & Gas indices closed flat.
As measured by market breadth, market sentiment was negative (0.6x), as 25 tickers lost relative to 16 gainers.
MCNICHOLS (-8.8%) and OMATEK (-8.7%) recorded the most significant losses of the day, while LEARNAFRCA (+10.0%) and DAARCOMM (+9.5%) topped the gainers’ list.
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