WED APRIL 24 2024-theGBJournal| Bearish sentiments intensified in the Nigerian equities market in today’s session following sell pressures on MTNN (-10.0%).
As a result, the All-Share Index dipped by 1.2% to 99,121.30 points. Sequentially, the Month-to-Date and Year-to-Date returns settled lower at -6.2% and +31.2%, respectively.
The total volume of trades fell by 31.1% to 395.75 million units, valued at NGN9.58 billion, and exchanged in 7,907 deals. GTCO was the most traded stock by volume and value at 81.41 million and NGN2.93 billion, respectively.
Sectoral performance was mixed, as the Banking (-0.8%) and Insurance (-0.3%) indices declined while the Consumer Goods (+0.1%) index advanced. Meanwhile, the Industrial Goods and Oil & Gas indices closed flat.
As measured by market breadth, market sentiment was positive (1.1x), as 21 tickers gained relative to 19 losers. NEIMETH (+10.0%) and SUNUASSUR (+10.0%) recorded the highest gains of the day, while MTNN (-10.0%) and TRANSCOHOT (-10.0%) topped the losers’ list.
Meanwhile, the naira depreciated further by 0.6% to N1,308.52/USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
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