Equities Investors Lose N134bn as NGX Index Moderates
Investors on the Nigerian Exchange (NGX) platform lost about N134 billion due to last minute selloffs in the equities market on Friday. Trading activities ended the week on a negative note, with key performance indicators down by 0.23%.
The equities market year-to-date return moderated as the NGX All Share Index fell by 221.10 basis points to close at 97,829.02. The bearish sentiment persisted from the previous trading day, driven by sell-offs in some medium and large cap stocks.
FBN Holdings, Lafarge WAPCO, PRESCO, and 22 others drove negative sentiment in the local bourse. Stockbrokers said market activities went down, as the total volume and total value traded for today dropped by 21.61% and 36.74%, respectively.
In a market update, Atlass Portfolios Limited told investors that approximately 366.62 million units valued at ₦6,067.05 million were transacted across 9,677 deals.
FBNH was the most traded stock in terms of volume, accounting for 11.57% of the total volume of transactions in the equities market on Friday.
Other volume drivers include GUINEAINS (9.53%), PRESTIGE (7.39%), CUTIX (5.98%), and FIDELITYBK (4.30%) to complete the top 5 on the volume chart.
FBNH also emerged as the most traded stock in value terms, accounting for 18.14% of the total value of traded on the exchange.
EUNISELL topped the advancers’ chart for today with a price appreciation of 9.99 percent, trailed by AUSTINLAZ whose share price rose by +9.92%.
Other gainers include HMCALL (+9.91%), THOMASWY (+9.77%), TANTALIZER (+9.26%), JAPAULGOLD (+9.00%) and twenty-one others.
Trading data showed that twenty-five stocks depreciated in the equities market on Friday. MECURE was the top loser, with a price depreciation of -9.83%.
Other decliners include MULTIVERSE (-9.03%), FBNH (-5.75%), WAPCO (-5.26%), HONYFLOUR (-2.61%), and PRESCO (-2.15%).
Based on trading direction, the market breadth closed positive, recording 27 gainers and 25 losers. Also, the market sector performance was positive, as three of the five major market sectors climbed.
The insurance index grew by 1.10%, followed by a 46 basis point surge in the consumer goods index, while the oil and gas sector edged higher by 0.33%. The banking and industrial sectors dropped by -1.14% and -0.46%, respectively, on Friday.
Overall, the Nigerian Exchange declined by N133.87 billion to N59.29 trillion. # Equities Investors Lose N134bn as NGX Index Moderates NGX Shrinks by N108bn as Investors Dump OANDO, ACCESS
