NGX Bleeds as Investors Lose N29 bln
The Nigerian Exchange, NGX, today drops off about N29 billion as equity investors continue to take profits from the market. Thus, year to date return moderates as dark clouds gathered at the local bourse.
Data from the Nigerian Exchange shows that the decline was prompted by the price depreciation of small and medium capitalised stocks. Consequently, Nigerian Exchange the All-Share Index dipped by 50.77 basis points representing 0.11 per cent depreciation, to close at 46,843.09.
Overall, equity market capitalisation lost ₦28.71 billion, representing a decline of 0.11 per cent to close at ₦25.25 trillion, month to date returns also sink. Similarly, the market activities were bearish as the total volume and value tanked by 40.45 per cent 31.43 per cent, respectively.
Atlass Portfolios Limited stated in a market report that approximately 214.33 million units valued at ₦1.79 billion were transacted in 4,125 deals. CHAMS top the position as the most traded stock in terms of volume, accounting for 14.19 per cent of the total volume of trades.
The company was followed closely by ACCESSCORP (14.14%), TRANSCORP (9.57%), FBNH (8.64%) and ETRANZACT (6.10%) to complete the top five on the volume chart. ACCESSCORP emerged as the most traded stock in value terms, with 17.06 per cent of the total value of trades on the exchange.
PZ, however, topped the advancers’ chart with a price appreciation of 9.80 per cent. The consumer goods company was trailed by JAPAULGOLD (9.68%), FCMB (9.32%), NGXGROUP (1.67%), FBNH (0.86%), UCAP (0.80%), LIVESTOCK (0.59%), GTCO (0.22%), FLOURMILL (0.16%) and seven (7) others.
On the contrary, eighteen (18) stocks depreciated, led by INTBREW with a price decline of 10.00 per cent to close at ₦4.50. READ: NASD OTC Market Cap Falls as Investors Lose N3.4 bln
FIDELITYBK sheds 4.88%, MBENEFIT lost 4.00%, STANBIC shrank 2.30%, ACCESSCORP was price down by 1.95%, ZENITH BANK dropped off 1.27%, TRANSCORP declined 1.00%, HONYFLOUR fell 0.58% and ETERNA lost 0.20%.
The market breadth printed negative, recording 16 gainers and 18 losers. Stock market data shows that sectoral performance was broadly negative, as four of the five major sectors closed bearishly compared to the previous session.
The decliners were led by Banking (-0.99%), Oil & Gas (-0.50%), Insurance (-0.33%) and Consumer Goods (-0.30%). Meanwhile, Industrial Goods remain unchanged.
NGX Bleeds as Investors Lose N29 bln
