Investors Lose N40.66bn as Stock Market Declines
Equities investors in the Nigerian Exchange (NGX) lose about N41 billion on Monday amidst renewed selloffs on some listed companies shares. Last week, the Nigerian Exchange lost weight after selloffs hit the leading market movers.
Both Dangote cement and Airtel Africa Plc see their share prices decline despite impressive earnings releases by companies listed on the bourse. Data from the local bourse shows that market performance dipped by 0.17% on the first trading session in the week while year-to-date return moderated further.
The Nigerian Exchange All-share index was down by 73.56 basis points to 43,839.08 points, according to trading data from the market. Market capitalization lost ₦40.66 billion to close at ₦23.88 trillion from ₦23.92 trillion the previous day.
In its daily market report, stockbrokers at Atlass Portfolios Limited said market activities were mixed as the total volume traded for the day increased by 31.08%, while the total value traded for the day was down by 21.13%.
Today’s trading report indicates that approximately 160.91 million units valued at ₦3,469.87 million were transacted in 4,258 deals. TRANSCORP was the most traded stock in terms of volume, accounting for 11.82% of the total volume of trades.
The company was followed by ACCESSCORP (10.33%), STERLNBANK (7.76%), FIDELITYBK (7.57%), and SOVRENINS (6.69%) to complete the top 5 on the volume chart.
Meanwhile, SEPLAT was the most traded stock in value terms, with 38.07% of the total value of trades on the exchange. NAHCO topped the advancers’ chart with a price appreciation of 9.88 percent.
NAHCO was trailed by COURTVILLE (8.70%), NEMS (6.67%), FIDELITYBK (2.44%), TRANSCORP (1.90%), and three (3) others, according to data from the Nigerian bourse. READ: Nigerian Bourse Declines as Investors Dump Banking Stocks
Today, nineteen stocks were noted to depreciate, topped by INTBREW with a price depreciation of -9.78% to close at ₦4.15. LIVESTOCK dipped by 9.73%, JAPAULGOLD lost 9.68%, UCAP was down 4.60% and NGXGROUP share price declined by 2.68%.
Also, OANDO plunged by 2.27% while shares of GTCO fell by 1.68% on Monday. Overall, the market breadth closed negative, recording 16 gainers and 18 losers while the sector performance closed negative.
Stockbrokers reported that three out of the five major market sectors were down, led by the Banking sector, which decreased by 0.80%. This was followed by the Consumer goods Sector which declined by 0.38%, and then the Oil & Gas sector bumps by 0.35%.
On the other hand, the Insurance sector increased by +0.30%, while the Industrial sector was unchanged. # Investors Lose N40.66bn as Stock Market Declines