Nigerian Exchange Shrinks as Equities Investors Lose N77bn

Nigerian Exchange Shrinks as Equities Investors Lose N77bn

Nigerian Exchange, NGX, shrank as equities investors lost about N77 billion due to renewed sell pressures on small cap stocks in the local bourse. The domestic bourse reversed the previous session’s gain, closing today’s trading on a bearish note, caused key market performance indicators to reduce by 0.11% on Wednesday. 

The downturn was driven by profit taking in some small, and medium cap listed stocks, stockbrokers said. The Nigerian Exchange All-Share Index reduced by 123.53 basis points to close at 107,675.46. However, the market activities were up as the total volume and total value traded on the exchange increased by 72.46% and 13.67% respectively.

In a note, Atlass Portfolios Limited told investors that approximately 423.42 million units valued at ₦9,565.13 million were transacted across 11,112 deals.

In terms of volume, FCMB led the activity chart, accounting for 24.19% of the total volume of traded in the market, followed by ZENITHBANK (7.89%), ACCESSCORP (7.38%), JAIZBANK (5.77%), and CAVERTON (4.95%).

ZENITHBANK emerged as the most traded stock in value terms, accounting for 16.74% of the total value of all transactions conducted on the exchange.

PZ and OANDO topped the advancers’ chart with a price appreciation of 10.00 percent each, trailed by HONYFLOUR (+9.96%), CAVERTON (+9.80%), LIVESTOCK (+9.35%), NASCON (+7.14%), ABCTRANS (+6.77%) and twenty-one others.

Twenty-three stocks depreciated, according to data obtained from the Nigerian stock market. FIDSON was the top loser, with a price depreciation of -9.60%.

Other decliners include PRESTIGE (-7.50%), LASACO (-6.15%), INTBREW (-4.39%), NGXGROUP (-3.23%), and WAPCO (-3.23%)  Today, the market breadth closed positive, recording 28 gainers and 23 losers. But the market sectoral performance was negative.

Exactly four out of the five major market sectors went down. The Insurance sector dropped by 0.92%, followed by the Banking sector which shed 0.75%. The Industrial sector fell by 0.43%, and the Consumer goods sector dipped by 0.17%.

The Oil & Gas sector closed in the positive region, recording a 0.88% growth. Overall, the equities market capitalization of the Nigerian Exchange fell by ₦76.99 billion to close at ₦67.10 trillion. #Nigerian Exchange Shrinks as Equities Investors Lose N77bn Oil Prices Increase amidst Shipping Routes Threats