Profit-taking pushed market bearish marginally by 0.02%

September 6, 2021
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The local stock market starts the week’s trading with mixed sentiments with a bearish tilt, as profit-taking activities witnessed pushes the benchmark index lower by 0.02 per cent.

Specifically, profit booking on Stanbic, United Bank for Africa and Flour mills of Nigeria, weighed the local bourse down on Monday, as their respective shares lost 1.4 per cent, 1.9 per cent and 4.2 per cent.

Thus, the All-Share Index traded flat at 39,252.98 basis points. Accordingly, Month-to-Date and Year-to-Date return printed +0.1 per cent and -2.5 per cent, respectively.

As measured by market breadth, market sentiment was positive, as 19 tickers gained, relative to 15 losers. Linkage Assurance And FTN Cocoa topped the gainers’ list while GlaxoSmithKline and Chi Plc recorded the most significant losses of the day.

Performance across sectors was mixed, as the Banking and Oil & Gas indices gained, while the Consumer Goods index declined. The Insurance and Industrial goods indices closed flat.

The total volume of trades increased by 27.5 per cent to 245.33 million units, valued at NGN1.38 billion, and exchanged in 3,989 deals.

Access Bank was the most traded stock by volume and value at 30.52 million units and N282.14 million, respectively.

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