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  • Business - Market Data
  • Updated: March 30, 2022

Equity Traders Lose N27.35 Billion As Sell Pressure Dominates Trading

Sell pressure continued its dominance of trading yesterday as the ASI fell by -0.11% following a drop in ACCESS (-1.95%) and ZENITHBANK (-1.27%) share values. Thus, the ASI closed at 46,843.09 basis points, which represented a decline of -50.77 bps from its previous session of 46,898.23 basis points.

The decline in the ASI was worsened by its -639.64 bps from the 52-week high position all-share index of 47,482.73 basis points.

The Week-to-Date (W-t-D) and Month-to-Date (M-t-D) indices remained negative by -0.26% and -1.16%, respectively, while the Year-to-Date (Y-t-D) index decreased by 12 basis points to close at +9.66%.

The volume of units traded decreased by 40.45% to close at 214.33 million units exchanged in 4,125 transactions, as against 359.89 million units traded in the previous session, while the value of shares fell by 31.43% to close at NGN1.79 billion, as against NGN2.61 billion recorded in the previous session.

Unfortunately, the equity market lost NGN27.35 billion as its equity cap closed at NGN25,245.88 trillion, much lower than its loss from its previous session close of NGN25,273.23 trillion.

With 30 million units traded, CHAMS was the most dominant stock by volume, while ZENITHBANK was the dominant stock by value, with NGN275.02 million traded.

Some of the notable mentions included FBNH, with a share value of NGN216.38 million, and TRANSCORP, with a volume trade of 20.51 million units, among others.

As measured by market breadth, the mood in the market was negative as there were 14 gainers relative to 17 losers.

The most gains were made by PZ (+9.80%), which closed trading at NGN11.20/unit, JAPAULGOLD (+9.68%), which closed trading at NGN0.34/unit, FCMB (+9.32%), which closed trading at NGN3.40/unit, and CHIPLC (+4.92%), which closed trading at NGN0.64/unit, while INTBREW (-10.00%), which closed trading at NGN4.50/unit, VERITASKAP (-8.70%), which closed trading at NGN0.21/unit, FTNCOCOA (-5.71%), which closed trading at NGN0.33/unit, and FIDELITYBK (-4.88%), which closed trading at NGN3.12/unit, registered the most losses.

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Okojie Kelvin Echiejile
Okojie Kelvin Echiejile

I am an astute, dedicated, devoted, and intelligent investigator of economic, and financial news and...

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