Nigerian Exchange Shrinks as Equities Investors Lose N231bn
The Nigerian Exchange, NGX, market capitalisation shrank by about N231 billion on Monday as sell side actors exited position in some named stocks. The domestic market opened the week on a bearish note with moderating year to date return while key market performance indicators fell by 0.34%.
Stockbrokers saw investors taking profit across sectorial indices, driven by huge selloffs in banking tickers, and others. The Nigerian Exchange All-Share Index decreased by 370.43 basis points today to close at 108,126.97.
However, the market activities improved as the total volume and total value traded on the Exchange grew by 13.32% and 10.16% respectively. In a note, Atlass Portfolios Limited told investors that approximately 357.76 million units valued at ₦9,211.19 million were transacted across 15,914 deals.
In terms of volume, JAIZBANK led the activity chart, accounting for 13.52% of the total volume of traded in the market, followed by ZENITHBANK (7.91%), UNIVINSURE (5.24%), GTCO (5.01%), and ACCESSCORP (4.35%), rounding out the top five.
ZENITHBANK emerged as the most traded stock in value terms, accounting for 14.96% of the total value of transaction conducted on the exchange. IKEJAHOTEL topped the advancers’ chart for today with a price appreciation of 10.00 percent, trailed by PZ (+9.26%), CONHALLPLC (+8.85%), DAARCOMM (+8.82%), LIVESTOCK (+5.95%), REGALINS (+5.63%) and ten others.
At the close of trading session, thirty-six stocks depreciated, according to data obtained from the local bourse. NNFM was the top loser, with a price depreciation of -9.99%. Other decliners include SUNUASSUR (-5.30%), HONYFLOUR (-4.65%), FBNH (-4.07%), TRANSCORP (-3.14%), and ACCESSCORP (-2.64%).
Today, the market breadth closed negative, recording 16 gainers and 36 losers. In addition, the market’s sectoral performance was negative, as all the five major market sectors were down.
The Banking sector dropped by 1.44%, followed by the Insurance sector which shed 0.86%, the Oil & Gas sector fell by 0.27%, the Consumer goods sector lower by 0.15%, and the Industrial sector lost 0.07%.
Overall, the equities market capitalisation of the Nigerian Exchange lost ₦230.85 billion, representing a decline of 0.34%, to close at ₦67.38 trillion. #Nigerian Exchange Shrinks as Equities Investors Lose N231bn Afrinvest Advises Investors to Reduce Airtel, MTNN Stocks
