Equity Investors Lose N69bn as NGX Opens Bearish

Equity Investors Lose N69bn as NGX Opens Bearish

Equity investors lost N69 billion on Monday as sell-side actors continue to book profit on companies’ stocks across sectoral indexes.  The market opened negative after the Nigerian Exchange (NGX) market cap fell by N2.09 trillion last week.

The All-Share Index decreased by 108.01 basis points today, or -0.08%, to close at 143,614.61. The stock market capitalisation reduced by ₦68.68 billion to close at ₦91.34 trillion.

Investors traded with caution amidst expectations that the monetary policy committee will reduce Nigeria’s benchmark interest rate after the completion of its bimonthly meeting.

The seller market saw negative price movements in STERLINGNG, WAPIC, DEAPCAP, TANTALIZER and others ahead of the Central Bank committee rate decision on Tuesday.

Trading activities however improved. Data from the Nigerian stock market indicates that total volume of all transactions conducted in the market rose by 4.03%.

Also, total value of all traded stocks increased by +10.75%. Stockbrokers reported that approximately 683.40 million units valued at ₦28,369.79 million were transacted across 23,864 deals.

GTCO topped volume chart, accounting for 29.44% of units closed in Nigerian bourse, followed by FIDELITYBK (18.99%), JAPAULGOLD (9.94%), FCMB (5.49%), and ACCESSCORP with 3.16%.

With size advantage, GTCO topped value chart, accounting for 60.18% of the total value of transactions closed in the equities market.

ETRANZACT topped gainers chart, up by +9.06%, followed by INTENEGINS (+8.49%), MCNICHOLS (+7.00%), CILEASING (+5.47%), UPDC (+5.26%), RTBRISCOE (+4.76%), and eleven others.

A total of twenty-six stocks depreciated, trading data from the Nigerian Exchange showed.  With a price depreciation of -7.85%, NPFMCRFBK topped the worst performers’ chart, followed by PRESTIGE (-7.48%), STERLINGNG (-6.94%), WAPIC (-6.18%), DEAPCAP (-5.59%), and OMATEK (-4.50%).

With the trading pattern, the market breadth closed on a negative note, as there were 17 gainers and 26 losers. Also, sectoral performance was negative.

The Insurance index decreased by -0.79%, followed by the Oil & Gas sector, down by -0.59%. The Banking sector fell by -0.27%, and the Consumer goods dipped by -0.02%. Only the Industrial goods sector remained unchanged.  MTN Nigeria Sets to Pay Shareholders Interim Dividend