Losses in Industrial Goods stocks -
As a result, YTD loss worsened to -8.8percent while market capitalisation declined N198.1bn to N12.8tn.
Activity level advanced as volume and value traded rose 76.8percent and 91.9percent to 280.7m units and N3.1bn respectively.
The most active stocks by volume were FBNH (68.2m units),
Sectors under our coverage recorded a bearish performance as 4 of 6 indices trended southward. The Industrial Goods index led the losers following sell-offs in
Trailing, the Banking and Oil & Gas indices fell 1.3percent and 0.4percent respectively as prices in
Meanwhile, the Consumer Goods index was the lone gainer, up 0.2percent due to price appreciation in
Investor sentiment as measured by market breadth weakened to 0.3x from the 0.6x recorded in the previous session as 10 stocks advanced against 34 losers.
The top gainers were Neimeth (+10.0percent), Okomu Oil (+9.9percent) and
Analyst said although profit taking was the tone of the market yesterday, they expect to see bargain hunting in subsequent trading sessions.
On the side of corporate disclosure,
Etranzact International Plc Unaudited Q1:2020 Financial performance shows that revenue climbed 5.8percent y/y to settle at N5.9bn. Nevertheless, PAT fell 301.1percent y/y to a loss of N182.5m.
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