Cautious trade shrinks NSE’s ASI by 1.00%

Caverton, GTBank, Presco led decliners

The celebrated return to bullish trade during the week has been cut short as cautious trading by investors’ has reversed the hinged on supply outwitting demand for highly priced equities resulting to price slump.

Subsequently, the Nigerian equities market resumed its sliding trend, as the Nigerian Stock Exchange (NSE) All Share-Index (ASI) trimmed by 1.00 per cent to close trade at for the year to date (YTD) returns on Investment (ROI) at 43.39 per cent.

Analysis of transaction for the day showed that the volume traded and market turnover also weakened by 29.98 per cent and 83.58 per cent respectively.
The price movement table for the day showed that there were 19 gainers and 26 laggards in the day, settling the market breadth at 0.73x.

BERGER led the gainers’ chart with a 4.93 per cent increase in price, to close at N8.09 followed by FCMB Holdings with 4.92per cent growth in equity price while DANGFLOUR also garnered 4.92 per cent equity price gain, , NPFMCRFBK gained 4.76 per cent, while FIDELITYBK closed the top five gainers table with 4.42 per cent gain.

The decliners table for the day was led by PRESCO which shed -4.98 per cent, CADBURY dropped -4.95 per cent, Guaranty Trust Bank (GTB) declined by -4.77 per cent, LIVESTOCK feeds dropped by -4.44 per cent, while CAVERTON closed the top five losers table with -4.35 per cent loss on its equity price

The market report showed that All NSE sectors indices closed lower, except the NSEOILG5 which advanced by 0.09%. NSEBNK10 dipped the most by 2.24%, followed by the NSEIND, NSEFBT10, and NSEINS10, which all pared by 1.74%, 0.48% and 0.09% correspondingly.

Meanwhile, the bourse remained awash with negative sentiments, as investors continued to sell down on counters which have rallied in recent times. We note that the significant profit taking in the banking and industrial goods sectors dragged the market performance in the day.

Stories by Bonny Amadi