Equities Investors Lose N317.5bn over Selloffs in Caverton, Aradel
Equities investors lost more than N317.5 billion on the Nigerian Exchange (NGX) trading platform as sell pressure extend to Monday. The equities market opened the new week on a downward trajectory, as key performance indicators plunged by 0.54%.
The market index or the Nigerian Exchange All-Share Index dropped by 524.04 basis points in today’s trading session to close at 96,907.98.
Last week, the local bourse bled deeply, lost N1.22 trillion due to 5-day bearish trading sessions. Continuing the negative momentum from last Friday, the market experienced sell-offs in several medium and large-Cap stocks.
ARADEL, OANDO, and others were down today, extending the losing streak to six successive trading sessions. In the last six market days, the Nigerian Exchange has lost ₦1.54 trillion.
The NGX market cap dipped, trading activities ended on a mixed note as the total volume traded increased by 37.68%, while the total value traded dropped by 10.15%.
In its note, Atlass Portfolios Limited told investors that approximately 1,223.70 million units valued at ₦14,233.80 million were transacted across 10,386 deals.
CONHALLPLC was the most traded stock in terms of volume, accounting for 46.38% of the total volume of traded in the equities market, followed by UBA (19.69%), STERLINGNG (10.00%), SOVRENINS (4.86%), and ACCESSCORP (2.14%).
UBA emerged as the most traded stock in value terms, accounting for 51.21% of the total value of trades on the exchange.
JOHNHOLT and UBA topped the advancers’ chart with a price appreciation of 10.00 percent each, trailed by EUNISELL which popped higher by +9.96%.
Other gainers include STERLINGNG (+5.96%), PZ (+4.55%), JAIZBANK (+4.44%), GUINEAINS (+4.44%) and ten others.
Twenty-nine (stocks depreciated on the Nigerian bourse on Monday. CAVERTON was the top loser, with a price depreciation of -10.00%, followed closely by ARADEL which dropped by 9.99%.
Other decliners include OANDO (-9.98%), FTNCOCOA (-9.90%), NEIMETH (-7.73%), and JAPAULGOLD (-4.00%). At the end of the trading session, the market breadth closed negative, recording 17 gainers and 29 losers.
Sectoral performance was mixed, with two indices ending on a positive note and two others closing in the negative. The Banking (+1.13%) and the Consumer Goods (+0.21%) indices closed positive, reflecting investor interest in UBA (+10.00%) and FLOURMILL (+3.23%). Conversely, sell-offs in VERITASKAP (-9.86%) and OANDO (-9.98%) negatively impacted the Insurance (-0.75%) and the Oil & Gas (-0.16%) indices. The Industrial Goods index remained unchanged.
Overall, the equities market capitalisation of the Nigerian Exchange fell by ₦317.54 billion to close at ₦58.72 trillion.#Equities Investors Lose N317.5bn over Selloffs in Caverton, Aradel#
