MON, SEPT 11 2023-theGBJournal |Nigerian stock market closed lower Monday as all major indexes are coming off a bullish week.
The All-Share Index fell by 1.2% to 67,296.18 points. Accordingly, the Month-to-Date and Year-to-Date returns settled at +1.1% and +31.3%, respectively.
Profit-taking activities in GTCO (-8.6%), DANGSUGAR (-10.0%), and ZENITHBANK (-5.8%) undermined the market’s performance.
The total volume traded increased by 7.6% to 520.13 million units, valued at NGN8.33 billion, and exchanged in 9,914 deals.
UBA was the most traded stock by volume at 73.93 million units, while ZENITHBANK was the most traded stock by value at NGN1.52 billion.
From a sectoral perspective, losses in the Banking (-6.1%), Insurance (-2.1%), Consumer Goods (-1.5%), Industrial Goods (-0.3%), and Oil & Gas (-0.1%) indices reflected the overall market performance.
As measured by market breadth, market sentiment was negative (0.4x), as 43 tickers lost relative to 16 gainers.
ETRANZACT (-10.0%) and NASCON (-10.0%) recorded the highest losses of the day, while NNFM (+10.0%) and OANDO (+9.7%) topped the gainers’ list.
Meanwhile, the naira also depreciated by 6.6% to N773.50/USD at the I&E window.
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