What can we really say is responsible for the continued decline we are witnessing in the equities market?
Is it possible that investors are trying too hard to regain losses without being strategic about their investments?
You see, it is no longer news that the equities market performed poorly the previous week.
But having such trajectory repeated would mean investors aren’t learning from their mistakes. Or is here something more?
They say when an elder stumbles and falls, he looks back to know what was responsible and takes mental note not to let such repeat itself.
Again, the equities market on Tuesday, April 23, 2024, closed on a negative note.
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At least 25 equities declined in the market among the decliners are Oando Plc, Honeywell Flour Mills, FTN Cocoa Processor among others.
The All-Share Index declined by 0.35%, settling at 99,311.54 from the previous close of 99,706.40.
Similarly, the market capitalisation closed at ₦‎56.195 trillion. An aggregate of 453 million units of shares was traded in 7,198 deals valued at ₦‎7.238 billion.
This brings the year-to-date to 32.94%, the month-to-date to negative 4.98%, and the week-to-date to negative 0.18% respectively.
Gainers And Losers
Sunu Assurances Nigeria Plc led other gainers with 10% growth to close at ₦‎1.10, CAP share price rose by 9.32%.
While Japaul Gold and Ventures, and Omatek Ventures Plc grew their share prices by 9.58%, and 9.21% respectively.
Honeywell Flour Mills Plc led other price decliners as it shed 9.89% off its share price to close at ₦‎3.19, while Oando Plc shares dipped by 9.82%.
Other major losers are First Bank of Nigeria Holdings (FBNH), and FTN Cocoa Processors Plc whose share prices dipped by 9.88%, and 9.40% respectively.
Volume Drivers
Transcorp Plc traded about 125.700 million units of its shares in 467 deals, valued at ₦‎1.892 billion.
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United Bank for Africa (UBA) Plc Plc traded about 55.486 million units of its shares in 685 deals, valued at ₦‎1.278 billion.
Access Holdings Plc traded about 51.473 million units of its shares in 958 deals, valued at ₦‎883.254 million.
