Equities Investors Lose N37bn as ARADEL, ACCESS, WAPCO Tumble
The Nigerian Exchange (NGX) lost N37 billion as investors sold their shares in Aradel Holdings, Access Holdings Plc, and Lafarge Africa (WAPCO). The market ended in red, with key performance indicators nosediving by 0.06% on Thursday due to sell pressure.
The All-Share Index declined by 60.88 basis points to close at 98,114.11. Year-to-date return also moderated due to portfolio rebalancing. Despite a largely positive market breadth, the outturn stemmed from sell-offs in ARADEL (-1.48%), WAPCO (-2.05%), and ACCESSCORP (-1.84%).
However, market activities were mixed, as the total volume traded for today increased by 38.53% while the total value dropped by 35.58%.
Market analysts at Atlass Portfolio Limited told investors in an emailed note that approximately 723.00 million units valued at N12,840.11 million were transacted across 8,695 deals in the equities market on Thursday.
CHAMPION was the most traded stock in terms of volume, accounting for 41.67% of the total volume traded on the local bourse. Other volume drivers include FIDELITYBK (6.73%), GTCO (5.56%), ACCESSCORP (4.93%), and WAPCO (4.03%) to complete the top 5 on the volume chart.
GTCO emerged as the most traded stock in value terms, accounting for 16.51% of the total value of trades on the exchange. CORNERST and UPL topped the advancers’ chart with a price appreciation of 10.00 percent each, trailed by STERLINGNG and SUNUASSUR, which gained (+9.98%).
Other gainers include GOLDBREW (+9.84%), GUINEAINS (+9.62%), NCR (+8.89%), ROYALEX (+8.47%), and twenty-seven others. Sixteen stocks depreciated, according to data from the local bourse. REDSTAREX was the top loser with a price depreciation of -10.00%.
Other decliners include FTNCOCOA (-5.61%), NEIMETH (-2.78%), LIVESTOCK (-2.29%), WAPCO (-2.05%), and ARADEL (-1.48%). Still, the market breadth closed positive, recording 35 gainers and 16 losers. In addition, the market sector performance was positive, as three of the five major market sectors were up.
The Insurance (+3.13%), Oil & Gas (+1.13%), and Consumer Goods (+0.02%) indices all closed positive on account of share appreciations in CORNERST (+10.00%), CONOIL (+5.07%), and HONYFLOUR (+1.01%).
On the flipside, the Banking (-0.26%) and Industrial Goods (-0.24%) indices closed down from sell pressures in ACCESSCORP (-1.84%) and WAPCO (-2.05%).
Overall, the equities market capitalisation lost N36.91 billion to close at N59.48 trillion. #Equities Investors Lose N37bn as ARADEL, ACCESS, WAPCO Tumble FX Stability: CBN Sells 122.671m Dollars to 46 Authorised Dealers
