Equities Investors Lost N1.47trn as Dangote Cement, Zenith Bank Dip
Equities investors lost about N1.47 trillion in the Nigerian stock market as sell pressure hit Dangote Cement and tier-1 banking on Monday, trading data revealed.
The Nigerian Exchange (NGX) All-Share Index (ASI) declined by 91 basis points as negative sentiment carried into the new week, dragging key performance indicators lower.
The market’s negative performance was driven by declines in DANGCEM (-5.50%), ZENITHBANK (-1.59%), GTCO (-1.44%), and ETI (-4.76%).
The market index fell by -2,261.39 basis points to close at 245,278.34, while Market Capitalisation declined by ₦1,468.30 billion to ₦159.26 trillion.
The total volume of companies’ shares traded and the total transaction value increased by 35.57% and 37.94%, respectively. Stockbrokers reported that approximately 349.40 million units, valued at ₦18,030.34 million, were transacted in 43,193 deals.
ACCESSCORP was the volume driver, accounting for 6.75% of all shares traded in the local bourse, followed by LIVESTOCK (6.66%), UBA (6.57%), HONYFLOUR (6.40%), and GTCO with 4.16%.
ARADEL topped the value chart, accounting for 21.39% of the total value of all shares traded on the Nigerian bourse, making it the highest-value stock on the exchange.
MULTITREX led the gainers chart, up 10.00%, followed by CMFC (+9.97%), AUSTINLAZ (+9.93%), THOMASWY (+9.92%), NEIMETH (+5.88%), AVACAP (+2.42%), and nine others.
A total of forty stocks depreciated. With a price depreciation of 10.00%, VITAFOAM topped the worst-performers chart, followed by CUTIX (-9.79%), OMATEK (-9.38%), INTENEGINS (-6.48%), LINKASSURE (-6.29%), and GUINEAINS (-6.25%).
Hence, the market breadth closed on a broadly negative note, with 15 gainers and 40 losers. Sectoral performance was negative today, with all five major market sectors declining.
The Industrial goods sector shed 2.90%, followed by the Banking sector (-1.40%), the Insurance sector (-0.89%), the Consumer goods sector (-0.16%), and the Oil & Gas sector (-0.06%).
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