Weak Investor Sentiment Takes Over Customs Street
By Dipo Olowookere
The first trading session on the floor of the Nigerian Exchange (NGX) Limited ended on a bearish note on Wednesday, June 1, 2022, with a decline of 0.03 per cent.
Business Post reports that weak investor sentiment dominated trading activities on Customs Street yesterday as the market breadth finished negative with 20 price gainers and 14 price losers.
Okomu Oil was the worst-performing stock as its value shed 10.00 per cent to settle at N193.50, NCR Nigeria fell by 9.77 per cent to N3.60, Conoil depreciated by 8.35 per cent to N29.10, Neimeth went down by 7.19 per cent to N1.55, while Fidelity Bank contracted by 4.71 per cent to N3.24.
The best-performing stock of the session was Eterna as it gained 9.90 per cent to trade at N7.44, FTN Cocoa appreciated by 9.38 per cent to 35 kobo, NAHCO expanded by 8.57 per cent to N7.22, Ikeja Hotel swelled by 7.83 per cent to N1.24, while Transcorp puffed up by 4.00 per cent to N1.30.
A total of 295.4 million shares valued at N3.6 billion were sold in 4,637 deals yesterday compared with the 318.3 million shares valued at N3.7 billion transacted in 5,190 deals a day earlier, representing a decline in the trading volume by 7.20 per cent, a drop in the trading value by 3.32 per cent and a contraction in the number of trades by 10.66 per cent.
Transcorp was the busiest equity during the session as it sold 121.5 million units worth N156.2 million, GTCO traded 20.1 million units valued at N454.8 million, Conoil transacted 17.0 million units valued at N493.4 million, Sterling Bank exchanged 16.1 million units worth N23.7 million, while Royal Exchange sold 11.8 million units for N11.0 million.
At the market yesterday, the consumer goods counter closed higher by 0.09 per cent, while the industrial goods sector closed flat, with the energy, insurance and banking indices depreciating by 1.03 per cent, 0.49 per cent and 0.30 per cent respectively.
At the close of trades, the All Share Index (ASI) reduced by 16.13 points to 52,974.15 points from 52,990.28 points, while the market capitalisation decreased by N9 billion to N28.559 trillion from N28.568 trillion.