At the close of the market today, the Equity Market ended trading session with an aggregate of 27,004.5 to capture a further loss of 1.92% (compared to 27,533.03 and 1.08% loss recorded yesterday).
Diagnosis: Major drivers of today’s loss were as a result of bearish market sentiment in the Financial Services (skewed to Banking), Conglomerates, Consumer Goods, HealthCare and Industrial Goods sectors.
Further analysis shows fresh bargain activities in the Non-financial Services sectors.
DANGCEM led the Industrial index to a loss of 2.59%.
SEPLAT and ETERNA led the Oil & Gas index to a gain of 0.92%.
The market breadth (No of Gainers/No of Losers) showed a marginal improvement compared to yesterday (0.625x vs. 0.57x). However, pessimistic activities dominated bargain hunting activities as 15 Gainers were recorded against 24 Losers on the trading chart.
The top 5 Gainers were SEPLAT (+10.35), INTBREW (+0.39), IKEJAHOTEL (+0.14), REDSTAREX (+0.10) and ACCESS (+0.09). The top 5 Losers were DANGCEM (-8.53), GUINNESS (-1.90), NB (-0.90), CADBURY (-0.98) and GLAXOSMITH (-0.56).
5 most actively traded stocks were ZENITH, FBNH, GUARANTY, UBA and NB.
In terms of VOLUME, ZENITH, UBA, ACCESS, FBNH and GUARANTY topped the list of equities on the trading chart.
Furthermore, the Oil & Gas index posted the strongest gain of 0.92%, while the Industrial, Banking, Consumer Goods and Insurance indices posted losses of 2.59%, 1.06%, 0.59% and 0.30%.