- As market retreats after 9-Day New Year Bullish Streak
BY BONNY AMADI
Profit taking sentiments of investors in the NGX Equities market on Thursday, reversed the markets gaining spree, ending a 9-day winning streak into the New Year, with the AllShare Index (ASI) dipping 0.43% to 166,057.29 points.
Investors profit taking sentiments led to contraction- in market capitalisation by N457.58 billion to N106.32 trillion driven by profit taking, as investors reaped on nine straight days equities price surge momentum.
Market breadth was negative at 0.9x, with 36 gainers overshadowed by 41 losers. As a result, the Month-to-Date and Year-to-Date returns settled at +6.7 per cent.
NESTLE, NCR, JAIZBANK, MORISON, and MECURE led the advancers, while MCNICHOLS, CAVERTON, IKEJAHOTEL, FTNCOCOA, and NEIMETH suffered the steepest declines.
Sectoral performance was mixed: Banking topped gains with a 0.78% rise, followed by Consumer Goods climbing 0.33% and Industrial edging up 0.01%.
Conversely, Oil & Gas led decliners with a 2.21% drop, followed by Commodity falling 1.14% and Insurance declining 0.24%.
Trading activity displayed divergent trends as share volume surged 35.80% to 1.02 billion units and transaction value rose 5.83% to N31.59 billion, whereas deal count fell 8.11% to 51,227 transactions.
Top five gainers
FGSUK2031S4 led the gainers with N10.00 or 11.11 per cent growth, closing at N100.00, followed by NESTLE with N195.80 or 10.00 per cent growth, closing at N2153.80 per share, while NCR appreciated by N10.60 or 9.87 per cent, closing trade at N116.90 per share.
JAIZBANK gained N0.74 or 9.92 per cent to N8.20, while MORISON closed the top five gainers group at N5.66, following appreciation by N0.51 or 9.90 per cent.
Worst five losers
MCNICHOLS led the losers’ group with N0.71 or 9.99 per cent dip top close at N6.58, followed by CAVERTON with N0.80 or 9.47 per cent decline to N7.65, while IKEJAHOTEL closed third in the group at N35.05 per share, following decline by N3.65 or 9.43 per cent.
FTNCOCOA lost N0.73 or 9.38 percent of its share price to end the session at N7.05, while NEIMETH closed the worst five losers’ group at N9.20 per share, having declined by N0.90 or 8.91 per cent.
Top five trades
SOVRENINS, which has sustained leadership of the activity group this week on the NGX led the day’s trading by volume of shares transacted, with turnover of 245,182,862.00 million shares worth N798, 450.959.20 million.
ACCESSCORP followed in transaction volume with 78,410,509.00 million shares worth N1,800,666,590.10 billion, ZENITHBANK polled 72.434.019.00 million shares worth N5.028.705.880.25 billion, JAIZBANK recorded 53,729.415.00 million volume of transacted shares worth N433,867,200.97 million, while LASACO closed the top five active stock’s group with 53,408,942.00 million shares worth N135,073,991.49 million.
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