Equities Investors Lose N63bn as Lafarge Africa, Oando Dip
Equities investors lost about N63 billion as the Nigerian Exchange (NGX) opened the week negative. Sell side actors offloaded stocks as buying sentiment relapsed amidst portfolio rebalancing.
Trading data from the local bourse showed that key performance indicators fell by 0.11% apiece while year to date return moderated.
The market witnessed profit taking from WAPCO (-4.73%), alongside selloffs in ACCESSCORP (-2.82%) and OANDO (-3.02%), outweighed buying interest in STANBIC (+4.63%) and OKOMUOIL (+9.19%).
Hence, the All-Share Index reduced by 103.23 basis points in today’s trading session to close at 98,107.52. Several medium and large-Cap stocks became target for profit taking on Monday, extending NGX negative performance.
According to data from the local bourse, market activities were down, as the total volume and total value traded for today dropped by 58.11% and 26.33% respectively.
In its note, Atlass Portfolios Limited told investors that approximately 436.04 million units valued at ₦12,864.43 million were transacted across 9,489 deals.
FCMB was the most traded stock in terms of volume, accounting for 14.14% of the total volume of trades.
Other volume drivers include ACCESSCORP (11.71%), UBA (6.23%), GTCO (5.62%), and FIDELITYBK (5.52%) to complete the top 5 on the volume chart.
ARADEL emerged as the most traded stock in value terms, accounting for 27.42% of the total value of trades on the exchange.
GOLDBREW and NGXGROUP topped the advancers’ chart for today with a price appreciation of 10.00 percent each, trailed by TANTALIZER which gained +9.92%.
Other gainers include AFRIPRUD (+9.72%), WAPIC (+9.35%), OKOMUOIL (+9.19%), INTENEGINS (+8.09%) and twelve others.
Today, thirty-six stocks depreciated, according to data from the Nigerian Bourse. Ticker: NSLTECH was the top loser, with a price depreciation of -10.00%.
Other decliners include DAARCOMM (-7.02%), FIDSON (-5.84%), JAPAULGOLD (-5.11%), WAPCO (-4.73%), and OANDO (-3.02%). Stockbrokers reported that equities market breadth closed negative, recording 19 gainers and 36 losers.
Also, the market sector performance was negative, as three of the five major market sectors went down. Leading the laggards was the Insurance sector (-1.22%), weighed down by profit-taking activities in CORNERST (-5.31%) and CONHALLPLC (-4.00%).
The Industrial Goods (-0.53%) and Banking (-0.11%) indices also declined, driven by selloffs in WAPCO (-4.73%) and ACCESSCORP (-2.82%), respectively.
The Consumer Goods sector recorded marginal gains (+0.02%) owing to buying interests in DANGSUGAR (+0.29%), while the biggest gainer was the Oil & Gas index (+0.44%) supported by strong demand in CONOIL (+3.10%).
Overall, the equities market capitalisation of the Nigerian Exchange (NGX) lost N62.58 billion to close at N59.47 trillion. #Equities Investors Lose N63bn as Lafarge Africa, Oando Dip#
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