Sell Pressure Drags Nigerian Bourse Lower by N3bn

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Sell Pressure Drags Nigerian Bourse Lower by N3bn
Equities investors lose about N3 billion on Monday in the equities segment of the Nigerian Exchange, NGX. The loss sustained was propelled by selloffs in some low cap shares after heavyweight drove an uptick last week.
Due to profit-taking activities, the Nigerian Exchange All-Share Index tracks lower, albeit, marginally compared to the weight of capital appreciation seen last week. 
Year-to-date return moderated to 16.29% as the equities market index dipped by a basis point to 49,676.75 points as against its previous close of 49,682.15 points – still trailing the 50,000 psychological mark.
On the back of today’s sell pressure, equities market capitalisation declined to N26.794 trillion, representing a 0.01% decrease from N26.797 trillion it stood at the end of the previous trading session.
Bulls’ camp maintains dominance over the market breadth with 18 counters in the gainers’ chart pitted against 9 counters in the losers’ chart, APT Securities & Funds Limited said in its market note. READ: Rising Demand for T-Bills Drags Yield Lower to 3.8%
TRANSEXPR gained 9.52% to become the best performing stock in the session, flanked by UPDCREIT, MULTIVERSE, VITAFOAM, and COURTVILLE as they populated the top five gainers’ chart.  CAVERTON, JOHN HOLT, JAPAULGOLD, AIICO, and NB populated the top five losers’ chart, according to trading data.
Market activity as measured by the volume of trades inched up in the session with daily traded volume standing at 232.945 million units, representing a 20.38% uptick from a volume of 193.512 million units traded in the previous session.
The value of those traded stocks on the other hand dipped by 52.90% in the session to stand at N2.186 billion as against a value of N4.641 billion recorded in the previous trading session.
Stockbrokers at APT Securities & Funds Limited said in the report that the financial service sector dominated the volume charts with JAIZBANK as the top traded stock by volume for the trading session.
This is followed by ACCESSCORP, FBNH, MBENEFIT, and ZENITH BANK to complete the list of the five most traded stocks by volume.  With regards to the value of traded stocks, ACCESSCORP took the lead of the top five performers, flanked by ZENITH BANK, FBNH, GTCO, and MTN Nigeria shares.
By sectorial performance, the Consumer Goods sheds 0.3%, Insurance also dipped 0.3% while Oil & Gas lost 0.1%. Meanwhile, the Banking index gained 0.3% while the Industrial Goods indices closed flat. # Sell Pressure Drags Nigerian Bourse Lower by N3bn
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