Equities Market Mixed as International Breweries Lists Rights Issue
The equities market index fell by 0.07% on Wednesday over renewed selling pressure on the Nigerian Exchange. At the close of the trading session, the local bourse All-Share Index experienced a slight dip, falling by 0.07% to close at 95,831.51 points.
The outturn today was on the back of sell-offs in OANDO (-8.66%), UBA (-1.79%), FBNH (-1.21%), TRANSCORP (-1.85%) and NASCON (-8.39%). However, market breadth was positive at 1.59x, with 27 gainers surpassing 17 losers. IKEJAHOTEL (+10.00%) led the gainers, while UPL (-9.40%) topped the laggards.
The disparity between the performance indicators was due to the Listing of International Breweries Plc’s Rights Issue of 161 billion ordinary Shares of 2 kobo each at ₦3.65 per Share, on the Exchange.
Data showed that all-Share Index reduced by 63.63 basis points today, reflecting a 0.07% decrease to close at 95,831.51. Equities market activities inched lower as the total volume and total value traded for the day declined by 64.44% and 5.66% respectively.
Stockbrokers said approximately 360.56 million units valued at ₦1,013.95 million were transacted across 8,813 deals. OANDO was the most traded stock in terms of volume, accounting for 18.40% of the total volume of traded in the market.
Other volume drivers include GTCO (12.71%), CUTIX (8.17%), UNIVINSURE (7.06%), and FCMB (5.90%) to complete the top 5 on the volume chart. Also, OANDO emerged as the most traded stock in value terms, accounting for 37.14% of the total value of trades on the exchange.
IKEJAHOTEL topped the advancers’ chart with a price appreciation of 10.00 percent, trailed by RTBRISCOE which gained +9.76%. Other gainers include CUTIX (+9.66%), TANTALIZER (+9.62%), THOMASWY (+6.96%), DEAPCAP (+6.82%), and twenty-one others.
NGX record showed that seventeen stocks depreciated as bear made a return into the market. UPL was the top loser, with a price depreciation of -9.40%. Other losers include OANDO (-8.66%), NASCON (-8.39%), MAYBAKER (-5.41%), UACN (-3.19%), and TRANSCORP (-1.85%).
Given the trading pattern, the market breadth closed positive, recording 27 gainers and 17 losers. Also, the market sector performance was negative, as four of the five major market sectors ended the day negative.
In a note, stockbrokers at CardinalStone explained that Sectoral performance was largely bearish, with four out of five sectors closing in the red.
The Banking (-0.30%), Insurance (-0.10%), Oil and Gas (-0.08%), and Consumer Goods (-0.02%) indices declined due to sell-offs in UBA (-1.79%), MANSARD (-1.64%), OANDO (-8.66%), and NASCON (-8.39%), respectively. Industrial Goods (+0.07%) index closed in green as investors accumulated units of WAPCO (+1.08%).
Overall, equities market capitalisation of the Nigerian Exchange grew by ₦599.88 billion to close at ₦55.05 trillion due to new listing from International Breweries Plc. #Equities Market Mixed as International Breweries Lists Rights Issue
The equities market index fell by 0.07% on Wednesday over renewed selling pressure on the Nigerian Exchange. At the close of the trading session, the local bourse All-Share Index experienced a slight dip, falling by 0.07% to close at 95,831.51 points.
The outturn today was on the back of sell-offs in OANDO (-8.66%), UBA (-1.79%), FBNH (-1.21%), TRANSCORP (-1.85%) and NASCON (-8.39%). However, market breadth was positive at 1.59x, with 27 gainers surpassing 17 losers. IKEJAHOTEL (+10.00%) led the gainers, while UPL (-9.40%) topped the laggards.
The disparity between the performance indicators was due to the Listing of International Breweries Plc’s Rights Issue of 161 billion ordinary Shares of 2 kobo each at ₦3.65 per Share, on the Exchange.
Data showed that all-Share Index reduced by 63.63 basis points today, reflecting a 0.07% decrease to close at 95,831.51. Equities market activities inched lower as the total volume and total value traded for the day declined by 64.44% and 5.66% respectively.
Stockbrokers said approximately 360.56 million units valued at ₦1,013.95 million were transacted across 8,813 deals. OANDO was the most traded stock in terms of volume, accounting for 18.40% of the total volume of traded in the market.
Other volume drivers include GTCO (12.71%), CUTIX (8.17%), UNIVINSURE (7.06%), and FCMB (5.90%) to complete the top 5 on the volume chart. Also, OANDO emerged as the most traded stock in value terms, accounting for 37.14% of the total value of trades on the exchange.
IKEJAHOTEL topped the advancers’ chart with a price appreciation of 10.00 percent, trailed by RTBRISCOE which gained +9.76%. Other gainers include CUTIX (+9.66%), TANTALIZER (+9.62%), THOMASWY (+6.96%), DEAPCAP (+6.82%), and twenty-one others.
NGX record showed that seventeen stocks depreciated as bear made a return into the market. UPL was the top loser, with a price depreciation of -9.40%. Other losers include OANDO (-8.66%), NASCON (-8.39%), MAYBAKER (-5.41%), UACN (-3.19%), and TRANSCORP (-1.85%).
Given the trading pattern, the market breadth closed positive, recording 27 gainers and 17 losers. Also, the market sector performance was negative, as four of the five major market sectors ended the day negative.
In a note, stockbrokers at CardinalStone explained that Sectoral performance was largely bearish, with four out of five sectors closing in the red.
The Banking (-0.30%), Insurance (-0.10%), Oil and Gas (-0.08%), and Consumer Goods (-0.02%) indices declined due to sell-offs in UBA (-1.79%), MANSARD (-1.64%), OANDO (-8.66%), and NASCON (-8.39%), respectively. Industrial Goods (+0.07%) index closed in green as investors accumulated units of WAPCO (+1.08%).
Overall, equities market capitalisation of the Nigerian Exchange grew by ₦599.88 billion to close at ₦55.05 trillion due to new listing from International Breweries Plc.
