At the close of the market today, the Equity Market ended trading session with an aggregate of 27,533.03 to capture a loss of 1.08% (compared to 27,833.89 and 0.73% gain recorded yesterday).
Diagnosis: Major drivers of today’s loss were as a result of pessimistic/Sell pressures in the Financial, Industrial and Consumer Goods sectors. Further analysis showed above-average negative market sentiment in the Financial Services sector (especially in the Banking Sector).
CCNN, WAPCO and DANGCEM led the Industrial index to a whooping loss of 1.08%.
The market breadth (No of Gainers/No of Losers) showed a marginal improvement compared to yesterday (0.57x vs. 0.53x) as pessimistic activities dominated bargain hunting activities: 16 Gainers were recorded against 28 Losers in the trading chart.
The top 5 Gainers were MOBIL (+6.30), UNILEVER (+3.50), GUINNESS (+1.75), TOTAL (+1.01) and BERGER (+0.45). The top 5 Losers were FORTE (-12.75), NB (-2.50), WAPCO (-1.99), 7UP (-1.90) and PRESCO (-1.50).
5 most actively traded stocks were FBNH, ZENITH, GUARANTY, UBA and NB.
In terms of VOLUME, MULTIVERSE, GUINEAINS, UBA, GUARANTY and UNILEVER topped the list of equities on the trading chart.
Furthermore, the Insurance index posted the strongest gain of 0.04%, while the Banking, Oil & Gas, Industrial and Consumer Goods indices posted losses of 2.86%, 2.74%, 1.08% and 0.18%.