Equities Investors Lose N69bn as Financial Stocks Fall
The equities market capitalisation of the Nigerian Exchange (NGX) dipped by more than N69 billion on Tuesday as investors began fresh profit taking in the local bourse.
The Nigerian domestic market closed trading activities negative for second day after some N950 billion was reported as gain last week. Due to the selling rally, market performance indicators dropped further by -0.12%.
Stockbrokers witnessed sell-off in some medium and large-scale stocks, such as UBA, ZENITHBANK, and others. In its market update, Atlass Portfolios Limited noted that investors continued safe-haven sentiment to other asset classes impacted the market.
The market index or All-Share Index reduced by 122.85 basis points, representing a decline of – 0.12% to close at 99,051.02.
However, market activities ended on a mixed note, according to data from the Lagos bourse. Total volume traded dropped by -0.63%, while the total value traded increased by +46.19%. Stockbrokers reported that approximately 347.39 million units valued at ₦7,656.37 million were transacted in 8,122 deals.
VERITASKAP was the most traded stock in terms of volume, accounting for 17.10% of the total volume of trades. The company followed by FIDELITYBK which drove 13.91% of trade volume in the market. Other volume drivers are: OANDO (8.08%), UNITYBNK (5.93%), and UBA (5.72%).
AIRTELAFRI was the most traded stock in value terms, accounting for 31.88% of the total value of trades on the exchange. NB both topped the advancers’ chart with a price appreciation of 10.00 percent each, trailed by PRESCO which appreciated by +9.99%.
Other gainers are: OANDO (+9.65%), RTBRISCOE (+9.62%), DEAPCAP (+9.09%), VERITASKAP (+7.81%), and nine others.
Twenty-two (22) stocks depreciated, according to Nigerian Exchange equity performance scorecard for the day.
TANTALIZER was the top loser, with a price depreciation of -10.00%. Other decliners include: INTENEGINS (-9.71%), UNITYBNK (-9.42%), NEIMETH (-4.35%), WEMABANK (-3.57%), and ZENITHBANK (-3.03%).
At the end of the trading sessions today, the market breadth closed negative, recording 15 gainers and 22 losers. In addition, the market sector performance was negative, as three of the five major market sectors sloped downward, led by the Insurance sector lost – 1.53%.
The Banking sector dipped by -1.45% and the Oil & Gas sector lost -0.78%, while the Consumer goods sector grew by +0.36%. The industrial sector closed flat. Overall, equities market capitalisation of the Nigerian Exchange declined by ₦69.36 billion to close at ₦56.03 trillion. #Equities Investors Lose N69bn as Financial Stocks Fall
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