The Nigerian inventory market yesterday sustained a bearish pattern with a N623 billion loss, pushed by selloffs in Lafarge Africa Plc and 47 others.
The All Share Index (ASI) misplaced 984.55 factors, representing a 0.70 per cent decline to shut at 138,737.64 factors. Market capitalisation shed N623 billion to shut at N87.784 trillion.
The downturn was impacted by losses recorded in medium—and large-capitalised shares, together with Lafarge Africa, Cadbury Nigeria, PZ Cussons Nigeria, Vitafoam Nigeria, and Dangote Sugar Refinery.
On market outlook, Afrinvest Restricted stated, “We count on a cautious buying and selling session as lingering profit-taking and weak investor sentiment exert stress on key sectors, seemingly extending the market’s downward pattern.”
As measured by market breadth, investor sentiment closed unfavorable as 11 shares superior, whereas 48 declined. NCR Nigeria recorded the best worth acquire, 9.96 per cent, to shut at N12.70 per share.
Austin Laz & Firm adopted with a acquire of 9.66 per cent to shut at N3.18, whereas Tantalizer rose by 6.09 per cent to shut at N2.44 per share.
Multiverse Mining & Exploration rose by 5.50 per cent to shut at N11.50, whereas Deap Capital Administration & Belief rose by 4.68 per cent to shut at N1.79 per share.
However, AIICO Insurance coverage, Status Assurance, Wema Financial institution, and Consolidated Hallmark Holdings led the losers’ chart by 10.00 per cent every to shut at N3.42, N1.62, N20.70, and N3.87 per share, respectively.
Ellah Lakes adopted with a decline of 9.93 per cent to shut at N11.43, whereas PZ Cussons Nigeria shed 9.89 per cent to shut at N33.25 per share.
Additionally, the whole quantity traded fell by 0.84 per cent to 407.569 million items, valued at N39.873 billion, and exchanged in 31,406 offers. Transactions within the shares of Warranty Belief Holding Firm (GTCO) topped the exercise chart with 32.612 million shares valued at N3.023 billion. Entry Holdings adopted with 29.780 million shares value N775.274 million, whereas AIICO Insurance coverage traded 21.807 million shares valued at N76.632 million.
Ellah Lakes traded 20.536 million shares valued at N235.874 million, whereas Sovereign Belief Insurance coverage bought 20.414 million shares value N56.521 million.
