By Dipo Olowookere
It was a negative start to a new month at the Nigerian Exchange (NGX) Limited on Monday as investors embarked on profit-taking, causing the market to melt by 0.15 per cent.
Business Post reports that the investor sentiment was negative yesterday as there were 32 depreciating stocks and 20 appreciating stocks, indicating a negative market breadth.
Eterna was the heaviest price loser at the trading session, losing 9.94 per cent to settle at N7.79, followed by UPDC, which went down by 9.44 per cent to trade at N1.63.
Courtville depreciated by 9.09 per cent to 40 kobo, Oando decreased by 7.92 per cent to settle at N4.65, while Honeywell Flour fell by 7.78 per cent to quote at N3.32.
Conversely, Fidson finished the trading session as the biggest price gainer after its share price went up by 9.92 per cent to settle at N6.76, followed by Guinness Nigeria, which grew by 9.92 per cent to sell for N39.90.
Sovereign Trust Insurance appreciated by 9.09 per cent to trade at 24 kobo, AIICO Insurance gained 8.87 per cent to finish at N1.35, while Regency Assurance increased by 8.11 per cent to 40 kobo.
It was observed that investors traded 378.2 million shares worth N3.2 billion in 6,384 deals compared with the 1.1 billion shares worth N13.8 billion transacted in 5,342 deals at the preceding trading day, indicating a decline in the trading volume by 66.53 per cent, a decline in the trading value by 76.46 per cent and an increase in the number of deals by 19.51 per cent.
At the close of transactions, Mutual Benefits Assurance was the most traded stock with the sale of 52.5 million units valued at N13.7 million.
UBA transacted 29.3 million shares worth N250.9 million, FBN Holdings sold 27.6 million stocks valued at N299.8 million, AIICO Insurance traded 27.0 million equities for N35.8 million, while Transcorp exchanged 26.2 million equities worth N27.4 million.
In terms of the performance of the key sectors of the market, the insurance and industrial goods sectors appreciated by 1.93 per cent and 0.11 per cent respectively, while the energy, banking and consumer goods counters depreciated by 1.82 per cent, 0.43 per cent and 0.30 per cent apiece.
As for the All-Share Index (ASI), it slipped by 61.81 points to 41,976.79 points from 42,038.60 points as the market capitalisation shrank by N33 billion to N21.906 trillion from N21.939 trillion.
