Wednesday, July 24, 2024
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HomeCapital MarketNSE: Bears hold trading as ASI down 7bps

NSE: Bears hold trading as ASI down 7bps

Trading at the Nigerian Stock Exchange  recorded a bearish performance Wednesday as the benchmark index declined 7bps to 40,465.32 points on the back of sell-offs in BUACEMENT (-1.8%), ACCESS (-1.8%), and BETAGLASS (-7.8%). Consequently, the YTD return declined to 0.5% while market capitalisation inched lower by ₦15.2bn to settle at ₦21.2tn. Activity level waned as volume and value traded declined 31.5% and 54.0% respectively to 244.2m units and ₦2.7bn. The most traded stocks by volume were FBNH (52.3m units), TRANSCORP (24.8m units) and GUARANTY (16.5m units) while MTNN (₦557.1m), GUARANTY (₦512.5m) and FBNH (₦381.5m) led by value.

Performance across sectors was mixed as 3 of 6 indices under our coverage closed lower. The Industrial Goods and Banking indices lost the most, down 0.8% and 0.2% respectively due to declines in BUACEMENT (-1.8%), ACCESS (-1.8%) and FCMB (-3.0%). Similarly, the Consumer Goods index inched lower by 7bps as a result of losses in GUINNESS (-3.4%) and ZENITH (-0.6%). On the flip side, the Insurance and AFR-ICT indices appreciated 1.9% and 0.5% respectively as CORNERST (+9.3%), WAPIC (+7.3%) and MTNN (+0.9%) ticked higher. Lastly, the Oil & Gas index appreciated 0.2% due to gains in OANDO (+2.7%).

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