Weak Investor Sentiment Tumbles Domestic Stock Market by 0.40%

Data from the bourse showed that apart from the industrial goods index, which gained 0.32 per cent, the other key sectorial indices ended in red.

The insurance counter fell by 1.68 per cent, the energy space declined by 1.24 per cent, the consumer goods industry weakened by 0.91 per cent, the banking sector slumped by 0.81 per cent, and the commodity space tumbled by 0.78 per cent.

Consequently, the All-Share Index (ASI) contracted by 435.17 points to 109,183.93 points from 109,619.10 points and the market capitalisation dwindled by N274 billion to N68.622 trillion from N68.896 trillion.

Customs Street finished the trading day with 25 price gainers and 32 price losers, indicating a negative market breadth index.

May and Baker lost 9.96 per cent to trade at N11.75, Chellarams also fell by 9.96 per cent to N11.75, Linkage Assurance depreciated by 9.88 per cent to N1.46, Omatek dropped 8.82 per cent to sell for 62 Kobo, and McNichols shrank by 8.70 per cent to N2.10.

On the flip side, UH REIT gained 9.97 per cent to close at N50.75, Red Star Express improved by 9.91 per cent to N6.10, RT Briscoe advanced by 9.57 per cent to N2.29, Sovereign Trust Insurance expanded by 9.38 per cent to N1.05, and Custodian Investment rose by 9.00 per cent to N21.80.

During the session, investors traded 1.6 billion shares valued at N18.9 billion in 25,927 deals versus the 664.2 million shares worth N13.0 billion transacted in 19,439 deals a day earlier, representing a jump in the trading volume, value, and number of deals by 146.39 per cent, 45.35 per cent, and 33.38 per cent, respectively.

Leading the activity chart was Royal Express with 903.6 million units worth N903.1 million, Fidelity Bank traded 137.4 million units valued at N2.4 billion, Japaul exchanged 81.7 million units for N164.2 million, UBA transacted 60.8 million units valued at N2.1 billion, and Tantalizers sold 43.5 million units worth N111.5 million.