Equity Investors Lost N20 bln as NGX Halts 5-Day Rally

Equity Investors Lost N20 bln as NGX Halts 5-Day Rally

Equity investors lost more than N20 billion on Tuesday as the Nigerian Exchange (NGX) All Share Index (ASI) pulled back from its five consecutive days of expansion, as investors took profits on the early Bull Run.

Consequently, the NGX ASI dropped 0.09% following selling pressures in GTCO (-0.20%), DANGCEM (-0.38%), ETI (-0.57%), UBA (-1.82%), STERLNBANK (-1.91%), NB (-5.21%), and NESTLE (-7.81%).

Selling pressures seen in the local bourse pull back market indicators. Overall, the Month-to-Date and Year-to-Date return both printed at +2.68%.

Market Capitalisation followed suit the direction of the ASI to stand at N23.631 trillion after shedding N20.4 billion in today’s trading session. Consequently, market breadth closed in favour of the bears with 26 counters in the losers’ chart pitted against 17 counters in the gainers’ chart.

Data from the Nigerian Exchange shows that BUAFOODS gained 10.00% for the fifth time, to lead the best five performing stocks in the session.

The newly listed BUA Foods Plc was however flanked by ETERNA, UBN, WEMABANK, and OANDO to complete the list of the top five gainers, according to APT Securities.

From the rear of the chart, MBENEFIT sheds the most weight to lead the laggards’ chart as it is flanked by BERGER, UPDCREIT, NESTLE, and UNITYBNK to complete the top losers’ chart.

APT Securities note shows that most sectoral indices closed in the same direction with the ASI save for NGX Banking and NGX OIL&GAS that gained 0.16% and 0.95% respectively.

Meanwhile, the NGXGROWTH board and NGX ASEM (Alternative Securities Market) closed flat. Today, stock market activity as measured by both volume and value shed weight in the session with daily traded volume standing at 295 million units.

This represents a 5.37% decrease from a volume of 311 million units traded in the previous session. The value of traded stocks dipped by 21.68% in the session to stand at N6.768 billion as against a value of N8.642 billion recorded in the previous trading session.

TRANSCORP dominated the volume charts as the top traded stock by volume for the trading session. This is followed by BUAFOODS, FBNH, GTCO, and ACCESS to complete the list of the five most traded stocks by volume.

With regards to the value of traded stocks, BUAFOODS took the lead of the top five performers as well. It is flanked by SEPLAT, STANBIC, DANGCEM, and lastly GTCO.

Elsewhere, across the Over-the-Counter (OTC) market, the NASD Share Index closed flat to stand at 751.14 basis points. This outing pegged the market capitalization at N636 billion in the session, APT Securities noted.

Trading data shows that market activity shed weight in the session as 10,900 shares were traded in 3 deals as against a volume of 442,515 units traded in 20 deals in the previous session; representing a 97.54% decline in the volume of trades as executed deals declined by 96.94%.

The value of those traded shares however stood at N316, 000 representing a 96.94% decrease from a value of N10.314 million recorded in the previous session. #Equity Investors Lost N20 bln as NGX Halts 5-Day Rally

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