The All Share Index (ASI) lost 92.77 points, representing a loss of 0.09 percent to close at 101,995.53 points. Also, market capitalization declined by N50 billion to close at N55.811 trillion.

The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are; Nestle Nigeria, Presco, Dangote Sugar Refinery, Eterna, and Fidson Healthcare.

According to industry watchers, the impact of the high yields in the fixed-income market will continue to drive sell-offs as investors switch their asset classes to less risky assets.

Other headwinds to the equities market are the uncertainties surrounding interest rate decisions and the possible ‘hike’ in the Monetary Policy Rate (MPR) by the Monetary Policy Committee (MPC) at their meeting scheduled for the 26th and 27th of February.

As measured by market breadth, market sentiment was positive as 28 stocks gained relative to 25 losers. NASCON Allied Industries recorded the highest price gain of 10 percent to close at N66.00, per share.

Juli followed with a gain of 9.83 percent to close at N2.57, while FBNH Holdings (FBNH) rose by 9.68 percent to close at N34.00, per share.

Wapic Insurance rose by 8.96 percent to close at 73 kobo, while DAAR Communications was up by 8.86 percent to close at 86 kobos, per share.

On the other hand, Nestle Nigeria led the losers’ chart by 10 percent, to close at N990.00, per share. Eterna followed with a decline of 9.97 percent to close at N15.80, while Fidson Healthcare declined by 9.82 percent to close at N15.15, per share.

CWG depreciated by 9.56 percent to close at N6.15 on NGX, while SUNU Assurance declined by 9.09 percent to close at N1.90, per share.

The total volume traded advanced by 1.14 percent to 294.325 million units, valued at N6.723 billion, and exchanged in 9,957 deals.

Transactions in the shares of FBNH topped the activity chart with 73.835 million shares valued at N2.416 billion. United Bank for Africa (UBA) followed with 20.670 million shares worth N493.051 million, while Zenith Bank traded 20.625 million shares valued at N731.406 million.

Fidelity Bank traded 19.982 million shares valued at N205.396 million, while Veritas Kapital Assurance sold 12.320 million shares worth N8.965 million.

Furthermore, the All-Share Index further dips by 0.33 percent to 101,707.70 points, as the market capitalization dropped by the same percentage to N 55.652tn as the year-to-date gain of the index slipped to 36.02 percent.

The negative result of the ASI also impacted the sectoral indices as three out of the five sub-sectors recorded adverse movements.

The downturn upturn was driven by price depreciation in large and Medium capitalize stocks among which are; Guinness stocks, PZ Cussons, Zenith Bank, Nigerian Breweries, United Bank for Africa, Lafarge, GTCO, FBN Holdings, Etranzact, CWG and Wema Bank. On the price movement chart, 24 stocks appreciated in price while 30 constituted the loser’s chart.

The Banking index led the losers with a 1.85 percent decline, driven by sell pressure in Unity Bank, Wema Bank, United Bank for Africa, and Zenith Bank Plc.

The Consumer and Industrial Goods indexes lost 0.22 percent and 0.10 percent, respectively, majorly due to share price decline in PZ, Cussons, Guinness Nigeria, Nigerian Breweries and Lafarge Africa.

Meanwhile, the Insurance and Oil/Gas sectors advanced by 1.13 percent and 0.09 percent, respectively.

Stocks trading activity on the NGX displayed a varied trend, with the total deals and value declining by 1.16 percent and 16.09 percent to 8,614 trades and N4.3bn, respectively; In terms of Volume transactions declined, by 20.76 million, representing 8.56 percent as investors traded 263.192 million shares valued at N.300 billion in 8614 deals against 42.432 million shares worth N5.3 billion exchanged hands the previous day in 8715 deals.

The stocks gainers included Honeywell Flour Mill, Juli Plc, and Cornerstone Insurance, whose share prices appreciated by 9.92 percent, 9.90, and 9.88 percent, respectively. Whilst VeritasKap emerged as the most traded security in terms of volume with 49.07 million units changing hands in 143 deals, while UBA led in traded value at N587.50m.

At the close of trading, there were more losers at 30 than gainers which were 24 securities.

The surge in the stock market that began since beginning of the year continue as investors also recorded N363 billion gains, to bring the cumulative capital appreciation for the year to 3.04 trillion.

There was a 33.3% appreciation in traded volume to 1.19 billion units, from last Friday’s 892.68 million units. In terms of value, there was an appreciation of N15.26 billion, from last Friday’s N14.33 billion.

Also, the Nigerian Exchange Limited, NGX All Share index (ASI), which measures the performance of the market, closed 0.83percent higher.

In terms of volume, TRANSCORP (+9.79%) led with 298.3 million units, followed by FCMB (+9.23%) with 106.05 million units, FIDELITYBK (-5.99%) with 87.65 million units, STERLINGNG (+9.88%) with 62.55 million units, and UNITYBNK (+9.79%) with 32.57 million units.

In terms of value, TRANSCORP (+9.79%) led with N4.08 billion, followed by FIDELITYBK (-5.99%) with N1.19 billion, MTNN (-0.70%) with N1.14 billion, FCMB (+9.23%) with N1.08 billion, and UBA (+3.28%) with N829.53 million.

There was mixed trading sentiment for stocks worth over N1 trillion as MTNN (-0.70%) recorded a price decline, while ZENITHBANK (+2.50%) and GTCO (+3.57%) recorded a price gain. UBA recorded a 3.28% gain to close with a market cap of N1.02 trillion, thus admitting the company into the SWOOT category.

Trading was positive for tier-1 banks as GTCO (+3.57%), UBA (+3.23%), ZENITHBANK (+2.50%), and ACCESSCORP (+3.20%) recorded price gains, while FBNH recorded no price change.

Here are the market Indices for yesterday’s trading session

• NGX All-Share Index: 80,324.53 points
• % Day Change: +0.75%
• Day’s Lowest: 79,562.13 points
• Day’s Highest: 80,324.53 points
• % YTD: +7.42%
• Market Cap: N43.96 trillion
• Volume Traded: 1,190.16 million units
• Value Traded: N15.26 billion

Top Gainers

• JBERGER: +10.00% to close at N46.75
• CUTIX: +10.00% to close at N2.75
• JAIZBANK: +10.00% to close at N2.53
• LASACO: +10.00% to close at N2.42
• CORNERST: +10.00% to close at N1.87
• OMATEK: +10.00% to close at N0.99

Top Losers

• DAARCOMM: -9.30% to close at N1.17
• ETERNA: -8.79% to close at N15.05
• CWG: -7.05% to close at N8.30
• PZ: -6.90% to close at N27.00
• FIDELITYBK: -5.99% to close at N13.35
• MCNICHOLS: -5.88% to close at N0.96