The equities market trended southwards at the close of today’s trading session, after the Nigerian All-Share index waned by 0.66%, to settle the Year-to-Date return at 5.58%. The volume traded declined by 44.49%, while market turnover advanced by 87.38%. Market breadth settled at 0.86x, reflecting eighteen (18) gainers against twenty-one (21) losers.
Honeywell flour topped the gainers’ chart, after appreciating by 7.89% to close at NGN1.23. The counter was trailed by May and Baker (+4.76%), LearnAfrica (+3.95%), Nahco (+3.85%) and Diamond Bank (+3.70%). Contrarily, 7 Ashaka Cement (-9. 1%), UPL (-4.88%), Nascon (-4.87%), UAC-Properties (-4.76%) and Unity Bank (-4.69%) led the laggards list.
Measuring sectoral performance, the NSE sector indices showed that the Insurance (+0.53%) and Banking (+0.12%) sectors closed positive. Conversely, the Industrial Goods, Food & Beverages and Oil & Gas sectors declined by 0.82%, 0.65% and 0.07% in that order.
Market watchers attribute yesterday’s market performance to mixed investors’ sentiments and sell pressures on Dangote Cement (-1.47%). Hence, they expect the market to close negative week-on-week in the absence of any positive news inflow to sway market movement.