The Nigerian Exchange (NGX) Limited ended with 20 price gainers and 32 price losers on Thursday, indicating a negative market breadth index and weak investor sentiment.
This happened as Customs Street witnessed continued selling pressure in most of the sectors during the trading session.
Data showed that only the insurance counter closed higher yesterday, rising by 1.70 per cent at the close of trading activities.
The consumer goods space went down by 0.66 per cent, the banking industry depleted by 0.36 per cent, the energy index crashed by 0.19 per cent, and the industrial goods sector tumbled by 0.02, while the commodity counter closed flat.
As a result, the All-Share Index (ASI) decreased by 0.02 per cent or 21.90 points to 105,525.26 points from 105,547.16 points and the market capitalisation reduced by 0.05 per cent or N31 billion to N66.155 trillion from N66.186 trillion.
Livestock Feeds lost 10.00 per cent yesterday to settle at N7.20, PZ Cussons declined by 9.97 per cent to N33.40, Mutual Benefits shed 9.35 per cent to close at 97 Kobo, UAC Nigeria retreated by 9.23 per cent to N29.00, and Secure Electronic Technology slumped by 9.09 per cent to 50 Kobo.
Conversely, Africa Prudential gained 9.76 per cent to quote at N15.75, Guinea Insurance expanded by 9.52 per cent to 69 Kobo, DAAR Communications grew by 8.33 per cent to 65 Kobo, AXA Mansard rose by 7.87 per cent to N9.60, and RT Briscoe climbed higher by 7.14 per cent to N2.40.
Business Post reports that 397.1 million stocks valued at N8.7 billion exchanged hands in 13,667 deals on Thursday versus the 438.1 million stocks worth N12.0 billion transacted at midweek in 17,286 deals, showing a shortfall in the trading volume, value, and number of deals by 9.36 per cent, 27.50 per cent, and 20.94 per cent apiece.
Universal Insurance topped the activity chart with 49.8 million shares valued at N29.2 million, Zenith Bank traded 34.9 million equities worth N1.6 billion, Royal Exchange sold 33.9 million stocks for N33.9 million, UBA transacted 33.9 million equities worth N1.3 billion, and Fidelity Bank exchanged 30.5 million shares valued at N584.6 million.