PZ Cussons, Jaiz Bank Lead Losers’ Chart as NGX Tumbles by 0.04%

By Dipo Olowookere

Despite investor sentiment turning bullish, the Nigerian Exchange (NGX) Limited spent another day in the red territory after it marginally closed lower by 0.04 per cent on Wednesday.

Profit-taking in two of the five key sectors of the bourse contributed to the drowning of Customs Street at midweek, overpowering the bargain-hunting in the three others.

The banking index appreciated by 1.73 per cent, the industrial goods sector improved by 0.24 per cent, and the energy counter increased by 0.22 per cent.

However, the insurance sector depreciated by 0.71 per cent and the consumer goods space went down by 0.11 per cent.

At the close of transactions, the All-Share Index (ASI) moderated by 34.84 points to finish at 98,023.23 points compared with the previous day’s 98,058.07 points and the market capitalisation contracted by N21 billion to settle at N59.397 trillion, in contrast to Tuesday’s value of N59.418 trillion.

The trading volume, value and number of deals went up further yesterday by 34.99 per cent, 71.91 per cent, and 5.04 per cent, respectively.

A total of 539.0 million shares valued at N15.3 billion exchanged hands in 10,028 deals at midweek versus the 399.3 million shares worth N8.9 billion transacted in 9,547 deals a day earlier.

Jaiz Bank sold 106.7 million equities for N241.4 million to lead the activity chart, UBA transacted 95.9 million stocks worth N2.9 billion, Chams exchanged 80.7 million shares valued at N162.2 million, MTN Nigeria traded 30.8 million stocks valued at N5.4 billion, and Zenith Bank transacted 23.1 million equities worth N912.2 million.

The duo of Jaiz Bank and PZ Cussons led the losers’ chart yesterday after they gave up 10.00 per cent each to settle at N2.25, and N18.90, respectively.

ABC Transport declined by 9.63 per cent to N1.22, UPDC went down by 9.37 per cent to N1.45, and International Energy Insurance retreated by 8.97 per cent to N1.32.

Conversely, the trio of SAHCO, University Press, and Vitafoam Nigeria led the gainers’ table after increasing by prices by 10.00 per cent each to quote at N27.50, N3.08, and N22.00, respectively, as Eunisell gained 9.93 per cent to trade at N4.65, and NAHCO flew by 9.89 per cent to N38.90.

A total of 33 stocks ended on the advancers’ log and 23 stocks finished on the laggards’ gang, indicating a positive market breadth index and strong investor sentiment.