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  • Business - Market Data
  • Updated: March 22, 2022

Investors’ Sell-Offs On UBA, ACCESS Kicks Off Trading On Bearish Note

Trading in the Nigerian stock market kicked off in a negative mood following some investors’ sell-off activities witnessed in UBA (-1.3%), and ACCESS (-0.51%) shares. 

Thus, the all-share index fell by -0.07% to close at 47,251.93 basis points, down by 30.74 basis points from the previous session's close of 47,282.67 basis points.

Furthermore, the ASI index fell short of the 52-week high position all-share index of 47,482.73 basis points (the highest resistance point) by 230.80 bps.

The Week-to-Date (W-t-D) and Month-to-Date (M-t-D) indexes stayed negative by -0.07% and -0.30%, respectively, while the Year-to-Date (Y-t-D) index stayed positive by +10.62%.

There was a 64.38% decrease in the number of units traded to 213.57 million units traded in 4,485 transactions, compared to the previous session's figure of 599.51 million units traded. At the same time, the value of shares fell by 30.17% to NGN2.68 billion, compared to the previous session's figure of NGN3.83 billion traded.

The equity market closed at NGN25,466.22 trillion.

ACCESS, was the most dominant stock by volume, with 27.19 million units traded, while ZENITHBANK was the most dominant stock by value, with NGN534.68 million traded.

Some of the notable mentions included GTCO, with a share value of NGN482.36 million, and UBA, with a volume trade of 18.74 million units, among others.

As measured by market breadth, the mood in the market was negative as 15 stocks gained relative to 21 losers.

The most gains were made by GUINNESS (+10.00%), which closed trading at NGN71.50/unit, ROYALEX (+8.33%), which closed trading at NGN1.30/unit, MBENEFIT (+8.00%), which closed trading at NGN0.27/unit, and LASACO (+6.00%), which closed trading at NGN1.60/unit, while RTBRISCOE (-10.00%), which closed trading at NGN0.72/unit, BERGER (-9.64%), which closed trading at NGN7.50/unit, IKEJAHOTEL (-8.76%), which closed trading at NGN1.25/unit, and CHAMPION (-8.07%), which closed trading at NGN2.05/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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