Honeywell, Seplat, Transcorp Drag NGX Lower by N188.5bn
Price depreciation in Honeywell Flour, Seplat Energy Plc, among other decliners dragged the equities market capitalisation of the Nigerian Exchange lower by about N188.5 billion on Thursday.
The domestic bourse went south again as a result of profit taking activities due to portfolio rebalancing, realignments ahead of second quarter earnings releases by listed companies in the market.
According to Atlass Portfolio Limited, the bearish trade today marked six (6) consecutive days of decline. Equities market key performance indicators dropped by 0.33%, while year to date return moderated.
Stockbrokers attributed huge daily loss recorded today to profit-taking in some medium and large-scale stocks.
Hence, the All-Share Index fell by 333.18 basis points to close at 99,468.90. Then, market activities slip as the total volume and total value traded drop by -68.27% and -53.99%, respectively.
According to data from the local bourse, approximately 296.73 million units valued at ₦5,447.74 million were transacted across 7,126 deals.
FIDELITYBK was the most traded stock in terms of volume, accounting for 15.79% of the total volume of trades.
Other volume drivers include LINKASSURE (10.84%), ACCESSCORP (7.84%), TRANSCORP (7.47%), and AIICO (5.28%).
SEPLAT emerged as the most traded stock in value terms, with 21.10% of the total value of trades on the exchange.
LINKASSURE topped the advancers’ chart with a price appreciation of 9.80 percent, trailed by DAARCOMM which gained +9.62%. Other gainers include VITAFOAM (+7.61%), LIVESTOCK (+7.32%), MECURE (+4.49%), JAIZBANK (+2.33%), and fifteen others.
Trading reports from the NGX showed that eighteen stocks depreciated as investors took profit ahead of earnings releases.
IKEJAHOTEL was the top loser, with a price depreciation of -9.29%. Other losers include: HONYFLOUR (-8.41%), SEPLAT (-8.30%), TRANSCORP (-3.63%), AFRIPRUD (-3.09%), and ACCESSCORP (-1.04%).
Despite declined in capitalisation, the market breadth ended the day on a positive note, recording 21 gainers and 18 losers.
Also, the sectoral performance was positive, as three of the five major market sectors reported gains.
The Banking sector grew by +0.13%, followed by the Insurance sector which popped higher by +0.09%, while the Industrial sector rose by +0.05%. On the other hand, the Oil & Gas and Consumer goods sectors went down -4.00% and 0.33%, respectively. respectively.
Overall, the equities market capitalisation of the Nigerian Exchange lost with ₦188.48 billion to close at ₦56.27 trillion. Ebonyi Govt. Approves N5bn for Projects in 100 Rural Communities
