Customs Street Sheds 0.43% on Weak Investor Sentiment

Data from the Nigerian Exchange (NGX) Limited showed that 23 equities ended on the gainers’ chart and 31 equities finished on the losers’ table, representing a negative market breadth index.

Yesterday, MeCure Industries lost 10.00 per cent to settle at N11.25, ABC Transport declined by 7.98 per cent to N1.50, DAAR Communications tumbled by 7.46 per cent to 62 Kobo, Guinea Insurance dropped 7.35 per cent to sell for 63 Kobo, and Royal Exchange slipped by 7.32 per cent to 76 Kobo.

However, Livestock Feeds gained 9.93 per cent to quote at N9.85, Cornerstone Insurance grew by 9.25 per cent to N3.19, International Energy Insurance increased by 8.99 per cent to N1.94, Smart Products Nigeria leapt by 8.33 per cent to 39 Kobo, and Lasaco Assurance surged by 7.55 per cent to N2.85.

A total of 324.6 million shares valued N7.9 billion were transacted in 12,652 deals during the session versus the 365.0 million shares worth N17.6 billion exchanged in 14,565 deals a day earlier, showing a decline in the trading volume, value, and number of deals by 11.07 per cent, 55.11 per cent, and 13.13 per cent, respectively.

The activity log was topped by Fidelity Bank with 29.4 million stocks for N502.2 million, Access Holdings traded 28.4 million equities worth N680.9 million, GTCO transacted 28.1 million shares valued at N1.7 billion, Zenith Bank exchanged 22.4 million stocks valued at N1.1 billion, and Universal Insurance sold 16.2 million stocks worth N9.7 million.

Analysis of the data indicated that the banking space was under selling pressure yesterday, with its index declining by 0.21 per cent, resulting in the fall of the bourse.

Further, the consumer goods counter depreciated by 0.28 per cent, and the energy sector tumbled by 0.03 per cent, as the industrial goods industry closed flat.

But the insurance space appreciated during the trading session by 0.46 per cent, and the commodity counter improved marginally by 0.02 per cent.

At the close of trading activities, the All-Share Index (ASI) shattered by 454.16 points to 106,167.75 points from 106,621.91 points and the market capitalisation went down by N284 billion to N66.485 trillion from N66.769 trillion.