Equities Investors Lose N698bn as BUAFOODS, ARADEL, STANBIC Fall
Equities investors lost about N698 billion at the Nigerian market as intense sell pressures halted positive momentum. As a result of the bearish pose, the Nigerian Exchange All-Share Index declined by 1.02% to close at 108,053.95 points.
Stockbrokers said the market’s negative performance was driven by intense selling pressure on some mid- to high-capitalized stocks. The top losers include BUAFOODS -10.00%, ARADEL -6.90%, STANBIC -5.43%, NB -2.80%, FIDELITYBK -2.01%, FBNH -1.67%, TRANSCORP -1.64%, FCMB -0.89%, UBA -0.77% and GTCO -0.08%, among others.
However, the market activities improved, as the total volume and total value traded on the exchange grew by 12.10% and 51.22%, respectively. In its market update, Atlass Portfolios Limited told investors that approximately 478.76 million units valued at ₦13,906.23 million were transacted across 15,613 deals.
In terms of volume, STERLINGNG led the activity chart, accounting for 18.57% of the total volume of trades, followed by ACCESSCORP (6.23%), VERITASKAP (4.53%), AIICO (4.21%), and HONYFLOUR (3.85%).
According to trading records, Dangote Cement (Ticker: DANGCEM) emerged as the most traded stock in value terms, with 17.61% of the total value of trades on the exchange.
ROYALEX topped the advancers’ chart with a price appreciation of 10.00 percent, trailed by UPDC (+9.88%), TIP (+9.76%), REDSTAREX (+9.09%), CWG (+7.41%), PZ (+7.32%), and thirty-two others.
Twenty-seven stocks depreciated, stockbrokers said in separate reports. BUAFOODS was the top loser, with a price depreciation of -10.00%. Other decliners include ARADEL (-6.90%), LIVESTOCK (-6.09%), STANBIC (-5.43%), NEIMETH (-3.75%), and TRANSCORP (-1.64%).
Hence, the market breadth closed positive, recording 38 gainers and 27 losers. However, market sectoral performance was negative, as three of the five major market sectors were down. Consumer Goods (-5.01%) was the worst performer, driven by significant sell pressures in BUAFOODS (-10.00%).
Bearish sentiments in ARADEL (-6.90%) contributed to the downturn of both the Oil & Gas (-2.34%) and Commodity (-1.33%) indices, while the Banking (-0.73%) index closed lower due to sell-offs in STANBIC (-5.43%).
On the flip side, industrial goods (+0.76%) and insurance (+0.29%) posted positive performances due to price upticks in DANGCEM (+1.24%) and MANSARD (+2.07%), respectively.
Overall, the equities market capitalisation of the Nigerian Exchange slumped by N697.62 billion, representing a decline of 1.02%, to close at ₦67.42 trillion. #Equities Investors Lose N698bn as BUAFOODS, ARADEL, STANBIC Fall Edun Highlights Nigeria’s Leadership in Africa’s Energy Transition
