Equities Investors Lose N53bn as Seplat, Oando, GTCO Fall

Equities Investors Lose N53bn as Seplat, Oando, GTCO Fall

Equities investors lost more than N53 billion as Seplat Energy, Oando, and GTCO market value declined due to sell pressure witnessed in the trading platform of the Nigerian Exchange (NGX). 

As a result of negative price movements, the Nigerian Exchange All-Share Index closed lower, slipping by -0.08% to settle at 111,818.08 points. The market changed course after bullish streaks, closing in negative territory, as profit-taking in some blue-chip stocks, particularly SEPLAT, weighed on the overall market performance.

Key market performance indicators slipped by 0.08%. The All-Share index shed 84.53 basis points today, settling at 111,818.08 index points, while the overall market capitalization dropped by approximately ₦53.30 billion, ending the session at ₦70.51 trillion.

This mild pullback, despite a positive market breadth, underscores the impact of strategic profit-taking as investors locked in recent gains from the market’s recent rally. The decline ultimately reflected a reduction in investors’ wealth, signaling a cautious shift in market sentiment.

However, market activities were up today, as the total volume and total value of all trades consummated increased by 8.65% and 0.30%, respectively. In a note, Atlass Portfolios Limited told investors that approximately 556.45 million units valued at ₦17,167.80 million were transacted across 18,505 deals.

In terms of volume, UBA led the activity chart, accounting for 14.92% of the total volume of trades, followed by FIDELITYBK (12.76%), NB (6.72%), TANTALIZER (6.56%), and ZENITHBANK (5.00%), rounding out the top five.

UBA also emerged as the most traded stock in value terms, accounting for 16.70% of the total value of trades on the exchange. MBENEFIT topped the advancers’ chart for today with a price appreciation of 10.00 percent, trailed by UPL (+9.98%), ACADEMY (+9.88%), SCOA (+9.62%), LIVESTOCK (+9.58%), FTNCOCOA (+9.54%), and thirty-four others.

Twenty-four stocks depreciated, according to data from the Nigerian Bourse. SEPLAT and LEGENDINT were the top losers, with a price depreciation of -10.00% each. Other decliners include OMATEK (-8.97%), ELLAHLAKES (-5.71%), NEIMETH (-4.28%), OANDO (-2.04%), and GTCO (-0.72%).

Bellwether companies that drove the downturn include SEPLAT (-10.00%), STERLINGNG (-2.54%), OANDO (-2.04%), GTCO (-0.72%), ACCESSCORP (-0.45%), and FIRSTHOLDCO (-0.20%), among others. Today, the market breadth closed positive, recording 40 gainers and 24 losers. The sectoral performance closed mixed, as two out of the five indexes ended in the green.

The oil & gas and consumer goods sectors advanced by 0.94% and 0.30%, respectively. In contrast, the oil & gas and insurance sectors declined by 5.01% and 0.17%, respectively. While the industrial sector closed flat. Alleged $12m Fraud- Court Fixes Date for SunTrust Bank’s MD Arraignment