Following profit taking in Presco and 20 stocks, negative sentiments resurfaced on the Nigerian Exchange Limited (NGX), yesterday, causing the All-Share Index (ASI) to dip by 0.2 per cent.

At the close of trading yesterday, market capitalisation of listed equities declined by 0.17 per cent to N36.801 trillion from N36.865 trillion reported the previous day. The ASI also depreciated by 116.71 basis points to 66984.62 points from 67101.33 points traded the previous day.

The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are; Presco, Ecobank Transnational Incorporated (ETI), Unilever Nigeria, Flour Mills of Nigeria and Guaranty Trust Holding Company (GTCO).

As measured by market breadth, market sentiment was negative, as 13 stocks lost relative to 27 gainers. McNichols led the gainers chart in percentage terms, adding 10 per cent to close at 66 kobo, Capital Hotel followed with a gain of 9.83 per cent to close N3.02 kobo, Chams Plc added 9.38 per cent to close at N1.40 kobo, ABC Transport increased by 8.82 per cent to close at 74 kobo. Oando Plc appreciated by 7.61 per cent to close at N9.90 kobo.

Neimeth added 7.10 per cent to close at N1.66 kobo. Caverton appreciated by 6.71 per cent to close at N1.59 kobo. Omatek garnered 6.67 per cent to close at N48 kobo. Fidson increased by 2.29 per cent to close at N15.17 kobo. Unity Bank gained 2.08 per cent to close at 98 kobo.

However, JohnHolt topped the losers chart with 10 per cent to close at N1.44 kobo while Presco Plc trailed with a loss of 9.54 per cent to close at N182. Daar Communication dipped by 8.70 per cent to close at 21 kobo, Deep Capital declined by 7.41 per cent to close at 25 kobo. Jaiz Bank fell by 6.25 per cent to close at N1.50 kobo.

Champion Breweries lost 6.11 per cent to close at N3.38 kobo. Regency Assurance depreciated by 5.41 per cent to close at 35 kobo. Ecobank TransNational Incorporated shed 5.31 per cent to close at N15.15 kobo. UPDC lost 5.11 per cent to close at N1.30 kobo. Learn Africa dropped 4.69 per cent to close at N3.05 kobo.

Analysts at Vetiva Dealings and Brokerage, said: “We expect to see the bulls and bears lock horns in coming sessions, as market continues to trade on a tepid note, whilst investors move in and out of counters.”

To Afrinvest: “Investors sentiments as measured by market breadth declined to -0.18x (previously 0.08x) as 13 stocks advanced, 27 declined. Tomorrow, we anticipate the bearish sentiments to linger in the absence of positive catalyst.”

The total volume traded declined by 4.2 per cent to 257.42 million units, valued at NGN7.80 billion, and exchanged in 6,498 deals. Transactions in the shares of Fidelity Bank topped the activity chart with 53.396 million shares valued at N442.890 million. Access Holdings followed with 31.088 million shares worth N490.504 million, while United Bank for Africa (UBA) traded 26.772 million shares valued at N459.677 million.

Oando traded 13.565 million shares valued at N133.364 million, while Zenith Bank sold 11.267 million shares worth N358.984 million