Equities Investors Lose N698bn as BUAFOODS, ARADEL, STANBIC Fall

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