Nigeria: Sell Pressure in BUA, GTBank Forces N20 Billion Market Loss

Trading on the floor of the Nigerian Exchange Group resumed the week with losses due to sell pressure in BUA cement (-4.7%), Guaranty (-1.2%) and WAPCO (-1.2%) as the market capitalisation declined by N20.7 billion to close at N20.2 trillion.

The All-Share index fell 0.1% to 38,686.40 points while the Year to date loss worsened to -3.9%.

Trading activity was mixed as volume traded rose by 5.9% to 210.8m units while value traded fell by 5.7% to N1.5bn.

The most traded stocks by volume were FBNH (16.6m units), Wapic (16.5m units), and Chams (16.2m units) while Zenith (N365.9m), Seplat (N134.2m), and FBNH (N121.0m) led by value.

Across sectors, performance was bearish as five indices lost while one index gained.

The Oil & Gas index was a lone gainer, up 0.3% due to buying interest in Conoil (+9.6%) and Ardova (+2.7%).

Conversely, the Insurance and Banking indices fell by 1.9% and 0.9% respectively, following price depreciation in AIICO (-2.6%), Mansard (-1.1%), Guaranty (-1.2%), and FCMB (-4.6%).

Similarly, the Consumer and Industrial Goods indices declined by 9bps and 7bps respectively on the back of sell pressure in Unilever (-4.2%) and Wapco (-1.2%). In the same vein, AFR-ICT index lost, down 1bp due to sell-offs in CWG (-9.8%).

More From: Daily Trust

Don't Miss

AllAfrica publishes around 900 reports a day from more than 130 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.

X