NGX Index Shrinks as Equities Investors Lose N81 Billion
Nigerian Exchange (NGX) All-share index (ASI) shranked on Friday as equities investors lost N81 billion from their combined portfolio vlaue due to selloffs.
Investors wealth decline as sell side actors dominated trading activities on Nigerian stock market, dragging key performance indicators downward after four gaining streaks this week. Trading results revealed that All-Share Index closed in the red, slipping by 0.09% to settle at 140,545.69 points.
The mild downturn was driven by sell-offs in some mid to high capitalized stocks, including PZ 3.33%, DANGCEM 3.18%, UCAP 3.08%, AIICO 2.57%, INTBREW 1.21%, among others.
The market saw price depreciation in Mutual Benefits Assurance, Lasaco Assurance, Daar Communications, PZ Cussons Nigeria.
The market capitalisation of listed equities declined by N81 billion, or 0.09 per cent, from N89.003 trillion to N88.922 trillion. In spite of the decline, market breadth closed positive with 32 gainers compared to 21 losers.
Etranzact and Regency Alliance Insurance grew by by 9.93 per cent each to close at N14.95 and N1.66 per share respectively. Chellaram advanced by 9.92 per cent to end at N13.30, while Industrial and Medical Gases gained 9.91 per cent to close at N36.60 per share.
Conversely, Mutual Benefits Assurance led the losers’ chart, dropping 7.80 per cent to N3.90 per share. Lasaco Assurance dipped 5.97 per cent to N2.99, while Daar Communications shed 4.50 per cent to close at N1.06 per share.
PZ Cussons Nigeria fell 3.33 per cent to N34.85, and NGX Group declined 3.30 per cent to N60.15 per share. Market activity showed a 15 per cent increase in volume, a 30 per cent rise in turnover, and a 3 per cent improvement in deals.
Overall, 434.7 million shares valued at N16.17 billion were exchanged in 23,729 transactions, compared to 378.2 million shares worth N12.4 billion in 22,935 deals previously.
Secure Electronic Technology led the activity chart with 71.4 million shares valued at N58.7 million. Access Corporation followed with 40.9 million shares worth N1.1 billion, while Sterling Nigeria traded 37.1 million shares valued at N279 million.
Regency Alliance Insurance recorded 20.1 million shares worth N33.4 million, while CHAMS sold 19.4 million shares valued at N62.8 million.
The total value and volume of stocks traded increased by 30.30% to N16.17 billion and 14.95% to 434.73 million units, respectively, across 23,729 deals. Zenith Bank Investors Are Taking Positions on Expectations
