NGX Index Falls as Investors Exit Positions in MTNN, Dangote
The Nigerian Exchange (NGX) index, market capitalisation shrank as investors exited positions in MTN Nigeria, Dangote Sugar, and Aradel Holdings stocks. The trading session closed on a negative note on Thursday, with key performance indicators reflecting mixed results. The Nigerian Exchange All-Share index declined by 0.05% on the day, but equities market capitalisation surged marginally due to new listings.
Today, the market listed Lasaco Assurance Plc’s private placement of 9,250,000,000 ordinary shares at ₦1.20 per share. The NGX index dropped by 47.93 basis points in today’s trading session, reflecting a 0.05% decrease to close at 102,788.20.
The downturn was primarily driven by profit-taking activities in key stocks across major market sectors. However, market activities were mixed today, as the total volume traded dropped by 0.12% while the total value increased by 50.28%, respectively. In a note, Atlass Portfolios Limited told investors that approximately 394.36 million units valued at ₦22,777.24 million were transacted across 12,160 deals.
In terms of volume, GTCO led the activity chart, accounting for 10.81% of the total volume of traded in the local bourse. Other volume drivers include UBA (9.60%), ZENITHBANK (6.45%), ACCESSCORP (6.24%), and JAIZBANK (3.55%), rounding out the top five.
SEPLAT emerged as the most traded stock in value terms, accounting for 19.29% of the total value of traded on the exchange. SCOA topped the advancers’ chart with a price appreciation of 9.76 percent. Other gainers include DAARCOMM (+9.09%), MAYBAKER (+8.43%), PRESTIGE (+6.82%), REDSTAREX (+4.99%), UPDC (+4.16%), and twenty-two others.
Twenty-eight stocks depreciated, according to data from the Nigerian Exchange. MORISON was the top loser, with a price depreciation of -9.98%. Other decliners include CILEASING (-9.91%), NEIMETH (-8.51%), DANGSUGAR (-6.54%), LASACO (-4.38%), and ARADEL (-1.10%).
Given the trading direction, the market breadth closed par, recording 28 gainers and 28 losers. In addition, the market sectoral performance was negative today, as three of the five major market sectors were down.
The Insurance (-1.23%) led the pack of laggards on account of bearish sentiments in NEM (-6.23%). The Consumer Goods (-0.81%) declined due to sell pressures in DANGSUGAR (-6.54%), while the Oil & Gas (-0.36%) and Commodity (-0.22%) indices slipped as a result of sell-offs in ARADEL (-1.10%).
The Banking (+1.23%) index as the sole gainer was driven by buying interests in GTCO (+1.67%) and UBA (+2.34%). Overall, the Nigerian Exchange grew by N15 million to settle at ₦63.15 trillion. #NGX Index Falls as Investors Exit Positions in MTNN, Dangote Nigeria, Angola Inflation Highest in Frontier Markets -Report
