NSE: Market extends loss as negative sentiment persists 

The Nigerian bourse extended the previous session’s loss on Thursday, depreciating by N16.885 billion amidst negative sentiment triggered by heavy sell pressure.

Thursday’s downward drift was essentially driven by losses recorded by blue-chip stocks led by Julius Berger, Nigerian Breweries, UACN and WAPCO.

Only the Insurance Index closed on a negative note among the sectorial indices, advancing by 0.24% to 135.76 basis points.

A negative market breadth was posted with 17 losers emerging against 16 gainers. The All Share Index fell by 0.13% to 25,182.67 basis points while market capitalisation depressed to N13.137 trillion.

Year to date, the index is down by 6.18%.

TOP 5 GAINERS

Neimeth led the gainers’ chart today, appreciating by 9.83% to close at N2.57. Unity Bank went up by 9.62% to N0.57. ABC Transport rose to N0.49, notching up 8.89% in the process. Japaul added 8.70% to end today’s trade at N0.25. AIICO completed the top 5, climbing by 6.31% to N1.18.

READ ALSO: NSE: Profit-taking costs investors N63bn

TOP 5 LOSERS

Caverton was the worst performing stock today, declining by 10% to close at N2.25. Prestige shed 9.09% to close at N0.70. Mutual Benefit fell to N0.22, losing 8.33%. Oando slumped to N2.60, recording 7.14% depreciation. Julius Berger closed at N19.85, going down by 6.59%.

TOP 5 TRADES

337.130 million shares estimated at N3.405 billion were traded today in 3,880 deals.

GTB was the most active today with 81.207 million units of its stocks worth N2.020 billion traded in 339 deals. 44.835 million units of Mutual Benefits shares priced at N10.117 million exchanged hands in 111 transactions. FBN Holdings had 25.057 million shares valued at N134.087 million traded in 208 deals. FCMB traded 15.543 million shares estimated at N26.742 million in 34 transactions. Caverton traded 14.071 million shares valued at N33.884 million in 67 deals.

Opinions