Trading activities at the Nigerian stock market on Thursday remained on the downward movement for the second consecutive session as selloffs of BUACEMENT (-4.51%), Fidelity Bank (-3.39%), Dangote Sugar (-2.94), Transcorp (-1.71%), and FBNH (-0.46%) shares contributed to the market’s weak performance. The market All-Share Index closed lower at 0.03 per cent to close at 50,582.30 points. Sectoral performance was also weak as the NGX Insurance index, NGX Oil/Gas Index and NGX Industrial Index fell by 0.05 per cent, 0.05 per cent and 1.57 per cent respectively. While the NGX Banking index was up by 2.07 per cent and the NGX Consumer Goods Index rose by 0.06 per cent.
The year-to-date (YTD) return fell to 18.41 per cent, while the market capitalisation lost N6.83 billion to close at N27.28 trillion. Analysis of Thursday’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions decreased by 61.08 per cent. A total of 130.45 million volume of shares valued at N1.62bn were exchanged in 3,993 deals. AIICO (-3.39%) led the volume chart with 16.32 million units, while MTNN (+0.05%) led the value chart in deals worth ₦403.58 million. Market breadth closed positive with gaining stocks outnumbering declining ones. PZ (+10.00%) led twenty- three (23) others on the leader’s log, while MULTIVERSE (-10.00%) topped 15 others on the laggard’s table.