Equities Investors Lose N19bn as ARADEL, INTBREW Decline
Sell pressures in oil and consumer goods stocks dragged the Nigerian Exchange (NGX) downward by about N19 billion. The decline was mainly driven by selloffs in ARADEL (-8.72%), INTBREW (-2.44%), and UACN (-2.44%).
The loss outweighed the gains in WAPCO (+9.95%) and banking ticker FBNH (+3.92%) The equities market had opened the week positively, but in the course of trading session, investors’ mood was altered.
Due to negative sentiment, the key performance index retreated by 0.03%, according to data from the domestic bourse. The All-Share Index reduced by 31.30 basis points to close at 97,702.56.
Despite positive market breadth, the local bourse downturn was primarily driven by sell-offs in some medium and large-scale stocks, including ARADEL, UACN, and others.
Stockbrokers said market activities edged higher as the total volume and total value traded surged by 156.26% and 169.58%, respectively. Atlass Portfolios Limited said approximately 1,156.17 million units valued at N27,363.86 million were transacted across 9,403 deals.
MANSARD was the most traded stock in terms of volume, accounting for 8.15% of the total volume of traded in the local bourse on Tuesday. Other volume drivers include UBA (7.79%), ACCESSCORP (6.99%), ELLAHLAKES (5.77%), and FBNH (5.75%).
ARADEL emerged as the most traded stock in value terms, accounting for 19.27% of the total value of trades on the exchange. GOLDBREW and BETAGLAS topped the advancers’ chart with a price appreciation of 10.00 percent each.
Other gainers include WAPCO with (+9.95%) growth, HONYFLOUR (+9.89%), SUNUASSUR (+9.88%), CONHALLPLC (+9.77%), CORNERST (+9.43%), and twenty-two others.
On the other hand, 23 stocks depreciated. SOVRENINS was the top loser, with a price depreciation of -10.00%. Other decliners include JOHNHOLT (-9.98%), ELLAHLAKES (-9.92%), THOMASWY (-9.42%), ARADEL (-8.72%), and JAPAULGOLD (-2.23%).
Based on trading direction, the market breadth closed positive, recording 29 risers and 23 losers. The insurance (+2.68%), industrial goods (+.00%), and banking (+0.82%) indices recorded gains.
On the other hand, the Consumer Goods (-0.22%) and Oil and Gas (-0.09%) indices faced downward pressure due to losses in INTBREW (-2.44%) and JAPAULGOLD (-2.23%).
Overall, the equities market capitalisation lost N18.98 billion to close at N58.23 trillion. #Equities Investors Lose N19bn as ARADEL, INTBREW Decline FBN Holdings Sheds 8% as Investors Exit Positions
