Equities Investors Lose N70bn as NGX Indexes Plunge
Equities investors lost more than N70 billion on the Nigerian Exchange (NGX) as buying sentiment fizzled out. The negative trading session was spurred by weak sentiment seen in Guinness, African Prudential, among others.
Stockbrokers said key performance indicators, the NGX-ASI and Market Capitalization dipped by 0.12% on Tuesday. At the end of the trading session, All-Share Index declined by 121.89 basis points to close at 97,584.81.
Market analysts attributed the downturn to profit-taking in some recently appreciated medium- and large cap stocks. Tickers: GUINNESS, OANDO, GTCO recorded loss due to sell side activities. However, market activities were mixed, as the total volume traded was down by 45.05%, while the total value traded grew by 39.92%.
In its market, stockbrokers at Atlass Portfolios Limited said approximately 719.11 million units valued at ₦8,341.40 million were transacted across 9,435 deals.
WAPIC was the most traded stock in terms of volume, accounting for 55.97% of the total volume of traded in the market. Other volume drivers include FIDELITYBK (6.95%), ACCESSCORP (3.54%), UBA (3.21%), and VERITASKAP (1.94%).
SEPLAT also emerged as the most traded stock in value terms, with 26.92% of the total value of trades on the exchange.
REGALINS topped the advancers’ chart with a price appreciation of 10.00 percent. Other gainers include PZ (+8.78%) growth, CUTIX (+5.60%), DEAPCAP (+5.59%), TIP (+5.26%), MCNICHOLS (+5.19%) and twenty others.
Twenty-nine stocks depreciated, according to data from the Nigerian Exchange. GUINNESS was the top loser, with a price depreciation of -10.00%. Other decliners include AFRIPRUD (-9.86%), INTBREW (-9.07%), OANDO (-5.84%), JAPAULGOLD (-3.82%), and DANGSUGAR (-1.23%).
The market breadth closed negative, recording 26 gainers and 29 losers. On the other, the market sector performance was positive, as three of the five major market sectors were up,
The oil & gas sector grew by +1.98%, followed by the insurance sector, which gained +0.86%, while the industrial sector rose by +0.01%. The consumer goods and banking sectors declined by 1.73% and 0.50%, respectively.
Overall, the equities market plunged by ₦70.04 billion, representing a decline of 0.12%, settling at ₦56.08 trillion. #Equities Investors Lose N70bn as NGX Indexes Plunge Liquidity: Banks Drive Yield Surge with T-Bills Selloffs
