Equities Investors Lose N274bn as Dangote, Fidelity Bank Dip
The Nigerian Exchange (NGX) all-share index plunged as equities investors lost about N274 billion due to profit-taking activities in the local bourse. Profit-taking activities continued on Thursday in the Nigerian equities market, with TRANSCORP (-4.4%), FIDELITYBK (-7.0%), and DANGSUGAR (-5.9%) weighing down the bourse.
Consequently, the NGX All-Share Index declined by 0.4% to 109,183.02 points, with the month-to-date and year-to-date returns settling at +3.2% and +6.1%, respectively.
The market downturn was primarily driven by sustained sell pressure in key stocks across major sectors, reflecting cautious investor sentiment amid ongoing response to the Central Bank of Nigeria’s recent interest rate decision.
Key market performance indicators declined by 0.40% as equities investors exited positions in some stocks. Specifically, the Nigerian Exchange All-Share Index declined 435.17 basis points to close at 109,183.93.
However, market activities were up today, as the total volume and total value of trades increased by 146.39% and 45.33%, respectively. In a note, Atlass Portfolios Limited told investors that approximately 1,636.41 million units valued at ₦18,886.88 million were transacted across 25,927 deals.
In terms of volume, FIDELITYBK led the activity chart, accounting for 18.46% of the total volume traded in the local bourse, followed by JAPAULGOLD (10.97%), UBA (8.16%), TANTALIZER (5.84%), and FCMB (5.65%), rounding out the top five. FIDELITYBK also emerged as the most traded stock in value terms, with 13.33% of the total value of trades on the exchange.
REDSTAREX topped the advancers’ chart with a price appreciation of 9.91 percent, trailed by RTBRISCOE (+9.57%), SOVRENINS (+9.38%), CUSTODIAN (+9.00%), ETRANSACT (+7.94%), FCMB (+6.45%), and sixteen others.
Thirty-three stocks depreciated, according to trading details obtained from the Nigerian bourse. CHELLARAM and MAYBAKER were the top losers with a price depreciation of -9.96% each. Other decliners include OMATEK (-8.82%), FIDELITYBK (-6.97%), DANGSUGAR (-5.91%), MULTIVERSE (-5.56%), and WEMABANK (-1.49%).
The stock market breadth closed negative, recording 22 gainers and 33 losers. Also, the market sectoral performance was negative, as four out of the five major market sectors were down.
The insurance sector declined by 1.68%, followed by the consumer goods sector, which declined by 1.41%; the banking sector fell by 1.08%, and the industrial sector declined moderately by 0.01%. The oil & gas sector closed flat.
Overall, the equities market capitalisation of the Nigerian Exchange lost ₦273.50 billion to close at ₦68.62 trillion. #Equities Investors Lose N274bn as Dangote, Fidelity Bank Dip FG to Sell Emefiele’s 753-Unit Housing Estate
