NGX Ends the Week in Red as Investors Offload Holdings
The Nigerian Exchange (NGX) ends the week in red with year-to-date losses jump to a 3-month high as investors offloaded holdings in big names.
The blood bath came strong and heavy as blue chips stocks lost sizeable amount which cumulatively plunged the stock market capitalisation below N20 trillion.
Like yesterday, the losses recorded today (-0.01%) softened relative to average daily losses of -0.60% recorded this week.
Equities market report indicates that declines in Banking stocks like Guaranty (-0.85%), Access (-0.60%), Fidelity (-1.72%) as well as BUACEMENT (-0.2%) anchored today’s weak performance.
Specifically, the All-Share Index inched lower by 4.06 points or 0.01 percent to close at 38,324.07 against 38,328.13 on Thursday.
Also, capitalisation declined by N2 billion or 0.01 percent to N19.975 trillion from N19.977 trillion reported on Thursday.
C & I Leasing dominated the laggards’ chart in percentage terms, losing 9.78 percent to N4.06 per share.
Chams trailed with a loss of 9.09 percent to close at 20k per share, while Julius Berger dipped 9.05 percent to N19.10 per share.
Royal Express lost 8.82 percent to close at 62k, while ABC Transport dropped by 6.82 percent to 41 per share.
Conversely, Prestige Insurance led the gainers’ chart in percentage terms with 8.16 percent to close at 53k per share.
Wapic Insurance garnered eight percent to close at 54k, while NPF Micro Finance Bank gained 7.23 percent to close at N1.78 per share.
However, the volume of shares traded rose by 10.84 percent as investors bought and sold 174.30 million shares worth N1.95 billion in 2,581 deals.
This was against a turnover of 157.26 million shares valued N1.74 billion in 2,824 deals on Thursday.
Chams was the most active stock, exchanging 36.89 million shares worth N7.39 million.
UACN followed with an account of 25.01 million shares valued N264.99 million, while BUA Cement traded 10.26 million shares worth N761.45 million.
Mutual Benefits sold 8.73 million shares valued at N761.45, while FBN Holdings traded 8.71 million shares valued N62.67 million.
It was noted that both traded value and volumes increased 12.21% and 10.83% to N1.952bn and 174mn units respectively.
This was largely driven by BUACEMENT (N761.4 million), UACN (N264 million) and GUARANTY (N251.7 million) ending today’s session as the most actively traded stocks by value.
NGX Ends the Week in Red as Investors Offload Holdings
