Nigerian Exchange Drops as Access Holdings, Nestle Face Selloffs
The Nigerian equity market opened the month on a bearish note, with key market performance indicators (the NGX-ASI and Market Capitalisation) both down 0.02%.
The marginal loss reflected renewed profit-taking in mid-cap and blue-chip stocks across key market sectors, with the Oil and Gas sector leading the decline.
Decliners include Aradel Holdings (9.99%). Others include Access Holdings (7.34%), Transcorp (5.97%), and Nestle Nigeria (3.64%).
Consequently, the market index (All-Share Index) fell by 54.28 basis points in today’s trading session, down 0.02% to close at 254,245.21. Stock market capitalisation also fell by ₦35.25 billion, or 0.02%, to ₦165.08 trillion.
Furthermore, total trade volume and total value traded fell by 48.15% and 44.67%, respectively. Traders transacted approximately 517.26 million units, valued at ₦47,482.83 million, across 54,015 deals.
In terms of volume, HONYFLOUR generated 14.38%, making it the most traded, followed by ACCESSCORP (8.06%), GTCO (7.96%), FIDELITYBK (5.65%), and CONHALLPLC (5.52%).
In value traded, DANGCEM generated 28.33% of total value traded, making it the highest-traded stock on the exchange.
Meanwhile, on the best performers’ chart, CONHALLPLC led with +10.00%, followed by LIVESTOCK (+9.77%), MANSARD (+9.30%), UPDC (+7.46%), NPFMCRFBK (+7.14%), AIICO (+7.04%), and fifteen others.
A total of forty-two stocks depreciated. With a -10.00% price depreciation each, CHAMPION and SUNUASSUR topped the worst-performers chart, followed by ARADEL (-9.99%), VITAFOAM (-9.97%), CORNERST (-9.89%), SOVRENINS (-9.79%), and INTENEGINS (-9.74%).
Hence, market breadth closed negative, with 21 gainers and 42 losers. Sectoral performance was negative today, with three of the five major market sectors down.
The Oil & Gas sector led the declines at -3.75%, followed by Banking (-1.79%) and Consumer goods (-1.17%). Industrial goods and Insurance rose by +3.34% and +0.93%, respectively. #Nigerian Exchange Drops as Access Holdings, Nestle Face Selloffs# Nigerian Exchange Indicators Surge as Investors Gain N779bn
