By Favour Akinmola
Negative sentiments resurfaced in the equities sector of the Nigerian Exchange Limited (NGX), as market capitalisation declined by N482 billion, amid price depreciation in Aradel Holdings Plc and 25 stocks.
At the close of transactions yesterday, the All-Share Index (ASI) shed 343.31 points, representing a decline of 0.35 per cent to close at 97,296.57 points.
Also, market capitalisation dipped by N482 billion to close at N58.696 trillion.
The downturn was driven by price depreciation in large and medium-capitalised stocks amongst which are Aradel Holdings, Eterna, Nigerian Breweries, John Holt and Haldane McCall.
Analysts at Afrinvest said: “Investor sentiment, as measured by market breadth, worsened to -0.04x (previously -0.01x) as 23 stocks advanced while 26 declined. We anticipate the market to extend the bearish performance tomorrow as the market remains short of positive catalysts.”
Also, market breadth closed negative, as 23 stocks gained relative to 26 losers. SUNU Assurance emerged as the highest price gainer at 9.97 per cent to close at N4.19, while Guinea Insurance followed with a gain of 8.16 per cent to close at 53 kobo.
Conoil and DAAR Communications rose by 6.56 per cent each to close at N276 and 65 kobo respectively, while NASCON Allied Industries appreciated by 6.23 per cent to close at N32.40 kobo.
On the other side, John Holt led others on the losers’ chart with 10 per cent to close at N9.90 kobo. Aradel Holdings followed with a decline of 9.98 per cent to close at N473.30 kobo, while Eterna declined by 9.88 per cent to close at N22.35 kobo.
Haldane McCall lost 8.43 per cent to close at N5.65, while UPDC depreciated by 8.13 per cent to close at N1.47 kobo.
The total volume traded increased by 48.97 per cent to 882.462 million units, valued at N10.286 billion, and exchanged in 9,385 deals. Transactions in shares of Haldane McCall led the activity with 373.722 million shares worth N2.159 billion. Japaul Gold & Ventures followed with an account of 115.927 million shares valued at N285.525 million, while Tantalizers traded 30.734 million shares valued at N34.872 million.
United Bank for Africa (UBA) traded 29.439 million shares worth N930.044 million, while Guaranty Trust Holding Company (GTCO) traded 28.748 million shares worth N1.516 billion.
