Emmanuel Ochayi
The first trading day post-Christmas saw the Nigerian Stock Exchange All-Share Index dip by 0.34%, closing at 73,768.64 points, marking a bearish start after the festive break.
According to market analysis, the NSE market experienced a decline, shedding N143 billion in market capitalization, resulting in a decrease to N40.367 trillion.
Join our WhatsApp ChannelHowever, amidst this downturn, the market breadth exhibited positivity with 41 gainers compared to 21 losers.
In a statement, financial analyst James Smith commented, “The market continues to grapple with volatility, and today’s downturn, mainly driven by Dangote Cement’s 2.19% share price loss, reinforces this ongoing challenge.”
Although there was a slight uptick in trading volume to 432.91 million units from the previous session, the traded value dwindled to N12.94 billion compared to last Friday’s N16.59 billion, indicating cautious trading sentiments post-holiday.
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Among the top gainers were ETERNA, MANSARD, MULTIVERSE, INFINITY, and IMG, while UACN, DEAPCAP, CAVERTON, ROYALEX, and TANTALIZER topped the list of losers.
In terms of volume, JAIZBANK led with 35.38 million units, followed by TRANSCORP, UNITYBNK, GTCO, and UCAP, while GEREGU, GTCO, AIRTELAFRI, ZENITHBANK, and UCAP led in traded value.
The market sentiment for stocks valued over N1 trillion exhibited mixed results, with MTNN, GTCO, and ZENITHBANK recording price gains, countered by DANGCEM’s significant decline. Similarly, tier-1 banks experienced a mixed trading session, with GTCO and ZENITHBANK gaining while FBNH and UBA faced price declines
Investors are closely observing these fluctuations as they navigate the market in the final days of the year, hoping for more stability and positive momentum in the upcoming sessions.
