NGX Dips, Investors Lose N1.23trn on MTN, Aradel Selloffs
The Nigerian Exchange (NGX) All-share index (ASI) dipped on Friday amid selloffs in MTN Nigeria, Aradel Holdings, and Consumer goods stocks like Unilever and PZ Cussons.
The market closed the week in negative territory, with key market performance indicators declining by -0.76% on the day, driven by weak bargain hunting.
The market index or All-Share Index fell by -1,912.19 basis points in today’s trading session, indicating a -0.76% decline to close at 250,330.92, while market capitalisation fell by ₦1,225.57 billion to close at ₦160.44 trillion.
The total volume of all trades and their total value increased by +4.28% and +6.36%, respectively. Approximately 1,084.11 million units valued at ₦44,289.28 million were transacted across 65,744 deals.
UBA accounted for 7.91% of trade volume, followed by FIRSTHOLDCO (7.53%), NSLTECH (6.66%), ACCESSCORP (6.65%), and STERLINGNG with 6.57%.
However, ARADEL accounted for 21.87% of the total value of all trades executed in the local bourse – the highest traded on the exchange.
ABCTRANS and MAYBAKER topped the gainers’ chart, up by +10.00% each, trailed by SCOA (+9.98%), TRANSEXPR (+9.97%), DAARCOMM (+9.76%), EUNISELL (+9.72%), BERGER (+9.71%), and forty others.
A total of twenty-seven stocks depreciated. With a price depreciation of -9.97%, ZICHIS topped the worst performers’ chart, followed closely by FTNCOCOA (-9.95%), TIP (-9.90%), LIVINGTRUST (-9.88%), INTENEGINS (-9.71%), and ABBEYBDS (-8.75%) and MTN (-2%).
Other losers include UNILEVER and PZ, among others, across key market sectors. Hence, the market breadth closed on a positive note, with 47 gainers and 27 losers.
Sectoral performance was largely negative, as Oil & Gas (-4.43%), Commodity (-3.04%), Consumer Goods (-0.90%), Banking (-0.15%), and Industrial (-0.02%) all weighed on the index, while Insurance (+2.42%) bucked the trend. Nigeria’s Inflation Rate for April Climbs to 15.69%
