Equity Investors Lost N30 Bln as NGX Opens Negative
Equity investors lost N30 billion on Monday as Nigerian Exchange (NGX) opens the week on a negative note as the headline inflation rate inched higher after eight consecutive months decline.
Last week, though the local bourse ended positive, transactions on the Nigerian Exchange ended negative three trading sessions ahead of dividend season. Domestic bourse sheds weight today due to strong sell-down in the financial sector.
Consequent to the selling rallies, the Nigerian Exchange sheds 55.01 basis points, representing a decline of 0.12 percent to close at 44,399.66 points. Equity market capitalisation declined by ₦29.64 billion to close at ₦23.92 trillion.
Today, the market activities were bearish as the total volume and value traded tanked by 47.18 percent and 72.64 percent, respectively, according to a market note from Atlass Portfolios Limited.
A total sum of 214.32 million units valued at ₦2.69 billion was transacted in 4,410 deals, data from the Nigerian Exchange shows. TRANSCORP led as the most traded stock in terms of volume, accounting for 15.37 percent of the total volume of trades.
The company stock was followed closely by FBNH (11.90%), GTCO (11.58%), ZENITH BANK (9.77%) and FIDELITYBK (4.83%) to complete the top five on the volume chart. Meanwhile, GTCO emerged as the most traded stock in value terms, with 23.25 percent of the total value of trades on the exchange.
SUNUASSUR topped the gainers’ chart with a price appreciation of 9.68 percent. The assurance company was trailed by ETERNA whose share price rises by 6.95%, CHIPLC gains 4.48%, NB jumps by 2.83%.
Also, NEIMETH share price appreciates by 2.78%, BUACEMENT share price inched higher by 2.19%, CAVERTON spiked by 1.76%, UACN lifted by 0.55%, UACP surged 0.45%, OANDO share surged 0.42% and five (5) others.
Market data shows that twenty-two (22) stocks declined in price, led by VERITAZHAP with a price depreciation of 8.70 percent to close at ₦0.21. BUAFOODS sheds weight by 6.36%, TRANSCORP declined by 5.26%, FIDSON lost 2.67%, NGXGROUP dropped off 2.27%, UBA dipped by 1.21%, WAPCO tumbled 0.78%, LIVESTOCK bumped 0.47% and GTCO knocked off 0.20%.
Overall, the market breadth closed negative, recording 15 gainers and 22 losers. However, the market sector performance was positive as the three of the five sectors led by Industrial Goods (0.81%), Oil & Gas (0.21%) and Consumer Goods (0.20%) grew as against the previous session. The Insurance and Banking sectors dipped by 0.19% and 0.08%, respectively.
