01-05-2025
Nigeria: Bears persists at NGX as ASI dips by 0.1%
Bearish sentiments persisted in the local stock market as sell pressures in Guaranty Trust Holding Company and Ecobank Transnational Incorporated caused a 0.1 percent decline in the benchmark index to 105,800.85 basis points.
Accordingly, the Month-to-Date and Year-to-Date returns moderated to +0.1 percent and +2.8 percent, respectively.
As measured by market breadth, market sentiment was positive, as 38 tickers gained relative to 24 losers.
On the performance board, University Press and Vitafoam led the gainers having appreciated in share value by 10 percent, respectively; while Ecobank Transnational Incorporated and International Breweries recorded the most significant losses of the day as their respective share prices dipped by 10 percent.
Sectoral performance was mixed as the Consumer Goods and Banking indices declined by 2.0 percent and 1.5 percent, respectively; while the Insurance index closed higher having added 0.9 percent. The Industrial Goods and Oil & Gas indices closed flat.
The total volume of trades declined by 46.4 percent to 392.99 million units, valued at N12.76 billion, and exchanged in 17,519 deals.
United Bank for Africa was the most traded stock by volume at 38.86 million units, while MTN Nigeria was the most traded stock by value at N3.61 billion.
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