At the close of the market today, the Equity Market ended trading session with an aggregate of 27,180.76 to capture a further loss of 3.28% (compared to 28,102.14 and 0.95% loss recorded yesterday).
Diagnosis: Today’s All Share Index’s loss of 3.28% was as a result of a strong bearish market sentiments in Consumer Goods, Oil & Gas, Industrial, Banking and Insurance stocks. Relatively greater losses in long positions taken in Blue-chip stocks and Large-cap stocks like DANGCEM, NB and PZ, ZENITH and ACCESS lent considerable support to the index’s loss.
Furthermore, equity investors recorded losses in long positions taken in Agriculture and Conglomerate stocks.
The market breadth (No of Gainers/No of Losers) marginally improved compared to yesterday (0.67x vs 0.54x). However bearish market activities dominated bargain hunting activities as 14 Gainers were recorded against 21 Losers on the trading chart.
The top 5 Gainers were WAPCO (+8.99), 7UP (+6.89), BERGER (+0.50), PORTPAINT (+0.18) and NAHCO (+0.18). The top 5 Losers were DANGCEM (-16.57), NB (-6.74), PZ (-0.71), UNHOMES (-0.47) and UBN (-0.34).
5 most actively traded stocks were ZENITH, GUARANTY, FBNH, NB and ACCESS.
In terms of VOLUME, FCMB, ACCESS, ZENITH, FBNH and GUARANTY.
NB and PZ led the Consumer Goods index to a loss of 2.09%.
DANGCEM led the Industrial index to a loss of 1.32%.
ACCESS, FIDELITY, STERLING, UBA, ZENITH and UBN led the Banking index to a loss of 0.88%.
AIICO led the Insurance index to a loss of 0.27%.
OANDO and ETERNA led the Oil & Gas index to a loss of 0.16%.