NGX Ends in Red as Investors Sell Buckets of Shares
The Nigerian Exchange, NGX, ends the week in the red as stocks depreciate by about N15 billion on Friday. Trading charts show that equity investors at the local bourse trade exits, selling buckets of shares for three consecutive days.
Today’s decline follows the sell-off in the Banking sector. Consequently, the Nigerian Exchange All-Share Index shed 27.46 basis points representing 0.06 per cent depreciation, to close at 47,268.61.
Equity market capitalisation was nosedived by a total sum of ₦14.88 billion, representing a decline of 0.06 per cent from yesterday’s figure to close at ₦25.48 trillion.
Similarly, the market activities were bearish as the total volume and total value traded on Friday tanked by 26.34 per cent and 69.12 per cent, respectively.
Atlass Portfolios Limited said in a market note that about 179.33 million units valued at ₦2.12 billion were transacted in 4,654 deals, citing stock market data. FCMB led as the most traded stock in terms of volume, accounting for 13.97 per cent of the total volume of trades.
The tier-2 bank shares were followed closely by ZENITH BANK (7.27%), FBNH (7.13%), UCAP (5.69%) and COURTVILLE (5.41%) to complete the top five on the volume chart. Meanwhile, ZENITH BANK emerged as the most traded stock in value terms, with 16.25 per cent of the total value of trades on the exchange.
JOHN HOLT topped the advancers’ chart with price appreciation of 8.86 per cent, trailed by UCAP (5.30%), HONYFLOUR (2.78%), OANDO (2.08%), PRESCO (1.95%), AFRIPRUD (0.74%), CAVERTON (0.70%) and thirteen (13) others.
Contrarily, eighteen (18) stocks depreciated, led by ROYALEX with price depreciation of 9.40 per cent each to close at ₦1.35, stockbrokers report shows.
BENEFIT share price dipped by 3.85%, UACN lost 3.12%), UNILEVER declined 2.07%, and ETERNA fell 1.75%), GTCO went down by 1.33%. Also on the losers’ chart, UBA shed 1.20% off its opening price, ZENITH BANK down 0.94% and MTNN depreciated 0.25%.
Due to selling down in top companies’ shares witnessed on Friday, the market breadth closed positive, recording 20 gainers and 18 losers. Traders said the sectorial performance was bullish as only the Banking sector closed negatively compared to the previous session by 0.66 per cent.
Read: Stocks Drop Big as Nigerian Exchange Takes another Sell-Offs Jab
The Insurance gained 0.60%, Oil & Gas index jumped 0.24% and Consumer Goods did 0.13%, respectively, leaving the Industrial Goods unchanged. #NGX Ends in Red as Investors Sell Buckets of Shares
