Equity Investors Lose N1.33trn as Dangote Cement, Oando Plunge

Equity Investors Lose N1.33trn as Dangote Cement, Oando Plunge

Equity investors lost N1.33 trillion in a swing as Dangote Cement, Oando, Nigerian Breweries, Zenith Bank, and Stanbic IBTC Holdings Plc stock market valuations plunged on Tuesday. The local bourse closed the trading session in the red, with key market performance indicators dipping by -1.46% as sell pressure heated up sharply on the day.

The magnificent decline in equity portfolio value was spurred by profit-taking activities in some medium- and large-cap stocks, especially Dangote Cement, Oando, Stanbic IBTC, and some other decliners.

The Nigerian Exchange year-to-date return moderated below 40% on Tuesday as the All-Share Index fell by 2,200.41 basis points to close at 142,522.06. Transactions reflect broader bearish sentiment across key sectors, dragging overall market performance lower and erasing N1.33 trillion in value.

Nevertheless, market activities were mixed, as the total volume of all trades executed on the exchange decreased by -10.87%, while the total value increased by +7.78%. Stockbrokers reported that approximately 1,022.00 million units valued at ₦17,432.97 million were transacted across 34,087 deals.

In terms of volume, UNIVINSURE led the activity chart, accounting for 12.69% of the total volume of all trades closed in the local bourse, followed by AIICO (9.76%), MBENEFIT (6.68%), PRESTIGE (6.52%), and REGALINS (4.50%). Nigerian Breweries emerged as the most traded stock in value terms, accounting for 12.10% of the total value of all trades consummated on the exchange.

ENAMELWA topped the advancers’ chart with a price appreciation of 9.95 percent, trailed by DAARCOMM (+9.82%), DEAPCAP (+9.60%), ACADEMY (+8.43%), INTBREW (+6.95%), ELLAHLAKES (+4.89%), and twenty others.

Twenty-nine stocks depreciated, according to stockbrokers’ reports. ROYALEX was the top loser, with a price depreciation of -10.00%, trailed by DANGCEM (-9.88%), ZENITHBANK (-7.26%), OANDO (-7.11%), NGXGROUP (-6.25%), and FTNCOCOA (-4.29%). The market breadth closed negative, recording 26 gainers and 39 losers.

Sectoral performance was largely bearish, with 4 out of 6 sector indices declining. The Industrial Goods (-4.37%), Insurance (-3.86%), Banking (-2.06%), and Oil & Gas (-0.68%) indices slipped, weighed down by losses in DANGCEM (-9.88%), NEM (-6.51%), ZENITHBK (-7.26%), and OANDO (-7.11%), respectively. On the flip side, the Consumer Goods Index (+0.57%) rose following demands for INTBREW (+6.95%). Meanwhile, the Commodity Index remained flat.

Overall, investors lost about ₦1.33 trillion in market value, with total market capitalisation declining to ₦90.23 trillion. Market sentiment remained weak, as reflected in market breadth performance. #Equity Investors Lose N1.33trn as Dangote Cement, Oando Plunge FirstHoldco Faces Tough Earnings Outlook, Plans to Sell Shares Privately