Equities Investors Lose N294bn as FBNH, Dangote Plunge
Equities investors lost more than N294 billion due to price depreciation posted by Dangote Cement, FBN Holdings, MRS, and other decliners on the Nigerian Exchange. On Tuesday, the local bourse ended the trading session in the red with key market performance indicators dropping by 0.44%.
The profit-taking activities reversed the previous day’s rally. The downward equities market performance was driven weak investors’ sentiment in some medium- and large-cap stocks like MRS, FBNH, DANGCEM, and others.
Stockbrokers said the market index, or the All-Share Index, decreased by 460.20 basis points, representing a decline of 0.44% to close at 103,958.75. However, market activities inched higher as the total volume and total value traded increased by 4.62% and 2.53%, respectively.
In a note, Atlass Portfolios Limited told investors that approximately 542.23 million units valued at ₦13,636.09 million were transacted across 15,561 deals. In terms of volume, ACCESSCORP led the activity chart, accounting for 8.13% of the total volume of traded on the exchange on Tuesday, followed by STERLINNG (7.80%), ZENITHBANK (6.24%), UBA (5.39%), and FCMB (4.81%), rounding out the top five.
ZENITHBANK emerged as the most traded stock in value terms, accounting for 12.69% of the total value of transactions conducted in the domestic bourse. Ticker: SCOA, EUNISELL, and OKOMUOIL topped the advancers’ chart with a price appreciation of 10.00 percent each.
Other gainers include NEM (+9.96%), CHELLARAM (+9.84%), OANDO (+9.72%), INTENEGINS (+9.66%), CAVERTON (+8.49%), and twenty-one others. Thirty-two stocks depreciated, according to trading data obtained from the Nigerian Exchange.
MRS was the top loser, with a price depreciation of -9.95%, trailed by REDSTAREX (-9.90%), VERITASKAP (-7.74%), FIDELITYBK (-6.00%), HONYFLOUR (-5.11%), FBNH (5.49%) and DANGCEM (-3.75%).
Today, the market breadth closed negative, recording 29 gainers and 32 losers. In addition, the market sectoral performance was negative. Stockbrokers said four of the five major market sectors went south, led by the industrial sector, which declined by 1.72%.
Also, the banking sector shed 1.21%, while the consumer goods sector lost 0.26%, and the insurance sector declined by 0.03%.
The Oil & Gas sector grew by 1.06%. Overall, the equities market capitalisation declined by ₦284.01 billion to close at ₦64.16 trillion. #Equities Investors Lose N294bn as FBNH, Dangote Plunge FBN Holdings Records Huge Off-Market Shares Transactions
