MON, 23 NOV, 2020-theGBJournal- The domestic equities market extended its losses from the last two trading sessions, as the All-Share Index declined by 4bps to 34,121.78 points. The NSE ASI was dragged by profit-taking on major financial services tickers – ZENITHBANK (-5.7%), WAPCO (-10.0%), STANBIC (-8.0%) and GUARANTY (-3.7%). Consequently, Month-to-Date and Year-to-Date gains moderated to 11.8% and 27.1%, respectively.
The total volume of trades increased by 64.7% to 568.04 million units, valued at NGN7.33 billion, and exchanged in 8,928 deals. ZENITHBANK was the most traded stock by volume and value at 79.74 million units and NGN1.91 billion, respectively.
Sectoral performance was broadly negative, as the Banking (-4.7%), Consumer Goods (-2.1%), Insurance (-2.1%) and Oil & Gas (-1.6%) indices recorded declines. The Industrial Goods (+2.7%) index was the sole gainer in our coverage.
Market sentiment, as measured by market breadth, was negative (0.1x), as 46 tickers declined, relative to 8 gainers. ARDOVA (-10.0%) and CUSTODIAN (-10.0%) topped the losers’ list, while AIRTELAFRI (+5.0%) and BUACEMENT (+4.8%) recorded the largest gains of the day.