Dangote, BUA Cement Drag NGX Index, Investors Lose N3.64trn
Equities investors lost about N3.64 trillion on Wednesday in the Nigerian stock market due to significant selling pressure across cement names and other decliners.
The Nigerian Exchange (NGX) closed trading for today on a negative note, with key performance indicators down 2.35%. The downturn, which halted the two-day gaining streak, was triggered by fresh profit-taking activities in mid-cap and blue-chip stocks.
The market index or All-Share Index fell by -5,668.65 basis points to close at 235,074.54, while Market capitalisation declined by ₦3,637.55 billion to close at ₦150.85 trillion.
Additionally, market activity was down today, as total transaction volume and value in the local bourse declined by 13.60% and 46.81%, respectively. Stockbrokers reported that approximately 488.08 million units, valued at ₦20,926.68 million, were transacted in 46,239 deals.
FIRSTHOLDCO topped the volume chart, accounting for 11.84% of all units traded in the market, followed by CHAMS (8.73%), ACCESSCORP (7.44%), LINKASSURE (6.61%), and STERLINGNG with 6.07%.
GEREGU led the value chart, accounting for 17.59% of the total trade value, making it the most actively traded on the exchange.
SKYAVN led the gainers chart, up +9.92%, trailed by INTENEGINS (+9.66%), TANTALIZER (+6.98%), OMATEK (+5.70%), AIICO (+5.19%), FTNCOCOA (+4.34%), and ten others.
A total of thirty-eight stocks depreciated. With a price depreciation of -10.00% each, BUACEMENT, DANGCEM, and GEREGU topped the worst performers’ chart.
Other decliners include CUSTODIAN (-9.97%), ACADEMY (-9.88%), REDSTAREX (-9.86%), RTBRSICOE (-9.34%), and NEIMETH (-8.82%).
Hence, market breadth closed on a negative note, with 16 gainers and 38 losers. Sectoral performance was negative today, with all five major market sectors declining.
The Industrial goods sector led by -8.31%, followed by the Insurance sector (-0.97%), the Banking sector (-0.71%), the Consumer goods sector (-0.29%), and the Oil & Gas sector (-0.11%).
