Equity Investors Lose N197bn as Bears Launch December Strike
The Nigerian Exchange (NGX) market capitalisation shrank as equity investors lost more than N197 billion at the beginning of the week, kick-starting December on a negative note.
As a result of bears striking on Monday, NGX key performance indicators fell by 0.22%, driven by cautious trading activities across sectoral indexes.
The market saw profit-taking activities in ARADEL, WAPCO, DANGSUGAR, and others, as investors continue to digest the recent economic parameters.
The NGX All-Share Index reduced by 310.20 basis points to close at 143,210.33. Also, equity market capitalisation fell by N197.31 billion to close at ₦91.08 trillion.
With negative sentiment, trading activities dropped as the total volume of all trades and the total value of all transactions conducted declined by -19.74% and -6.82%, respectively. Stockbrokers said approximately 1,466.17 million units valued at ₦18,665.51 million were transacted across 28,956 deals.
WEMABANK topped the volume chart, accounting for 20.37% of the volume transacted in the market, followed by ACCESSCORP (16.89%), FIDELITYBK (10.77%), ZENITHBANK (4.50%), and CUSTODIAN with 3.71%.
Also, WEMABANK topped the value chart, accounting for 14.75% of the total value of all trades executed in the local bourse – the highest traded on the exchange.
NCR topped gainers chart, up by +9.97%, followed by SUNUASSUR (+9.18%), CHAMPION (+8.11%), MECURE (+7.58%), GUINEAINS (+7.27%), LINKASSURE (+6.98%), and thirteen others.
A total of twenty-six stocks depreciated, according to the market report. With a price depreciation of -10.00%, INTBREW topped the worst performers’ chart, followed by RTBRISCOE (-9.88%), CORNERST (-7.83%), DAARCOMM (-6.52%), REGALINS (-4.81%), and UPDC (-4.18%).
Hence, the market breadth closed on a negative note, as there were 19 gainers and 26 losers. The sectoral performance was negative today as three out of the five major market sectors declined.
The Consumer goods sector fell by -1.01%, followed by the Oil & Gas sector, down by -0.11%, and the Industrial goods sector, lower by -0.07%. The Banking sector and the Insurance sector increased by +0.11% and +0.10%, respectively. Ikeja Hotel Hits Highest Valuation in 52-Week, Gains 45%
