Equities Investors Lose N123bn as GTCO, FBNH, STANBIC Plunge

Equities Investors Lose N123bn as GTCO, FBNH, STANBIC Plunge

Equities investors lost about N123 billion on Monday as sell pressures hit banking names including GTCO, FBN Holdings, and Stanbic IBTC among others. The activities of sell-side traders plunged key performance indicators lower by 0.21%.

Though some lightweight stocks rally, losses in large cap like GTCO (-3.39%), STANBIC (-3.09%) and FBNH (-1.57%) as well as WAPCO (-1.85%) and DANGSUGAR (-2.71%) outweighed.

The All-Share Index nosedived by 202.75 basis points to close at 97,626.27. However, market activities inched higher as the total volume and total value traded for dropped by 83.09% and 75.37% respectively.

In its market note, Atlass Portfolios Limited told investors that approximately 671.26 million units valued at N10, 639.89 million were transacted across 10,464 deals.

FBNH was the most traded stock in terms of volume, accounting for 36.57% of the total volume of trades. Other volume drivers include HMCALL (7.03%), TANTALIZER (5.27%), GUINEAINS (4.90%), and PRESTIGE (4.88%) to complete the top 5 on the volume chart.

FBNH also emerged as the most traded stock in value terms, accounting for 58.54% of the total value traded on the exchange. HMCALL topped the advancers’ with a price appreciation of 10.00 percent, trailed by SUNUASSUR which popped up by +9.81%.

Other gainers include NCR (+9.72%), SOVRENINS (+9.52%), TANTALIZER (+9.32%), PRESTIGE (+9.21%) and twenty-two others.  In the equities market, thirty stocks depreciated, according to Atlass Portfolios Limited. NSLTECH was the top loser, with a price depreciation of -9.83%.

Other decliners include DAARCOMM (-9.68%), LASACO (-8.63%), JAPAULGOLD (-6.09%), GTCO (-3.39%), and DANGSUGAR (-2.71%). Based on trading direction, the market breadth closed negative, recording 28 gainers and 30 losers.

On sectoral performance, all indices closed in red, barring the Insurance index, which gained 0.69% as investors accumulated units of SUNUASSUR (+9.81%).

Elsewhere, the banking (-1.60%), Oil & gas (-0.24%), industrial goods (-0.16%) and consumer goods (-0.03%) indices all closed lower, owing to selloffs in GTCO (-3.39%), JAPAULGOLD (-6.09%), WAPCO (-1.85%) and DANGSUGAR (-2.71%), respectively.

Overall, the equities market capitalisation of the Nigerian Exchange lost N122.88 billion to close at N59.17 trillion. #Equities Investors Lose N123bn as GTCO, FBNH, STANBIC Plunge  Naira Plunges on Suboptimal FX Intervention