NGX Index Dips as Equities Investors Lose N49bn
The Nigerian Exchange (NGX) index declined as sell pressure knocked off N49 billion from the equities market capitalisation on Friday. The local bourse closed the week on a negative note, as key market performance indicators dropped by -0.08% apiece on the final trading day this week.
Despite today’s downturn, the market recorded an impressive week-on-week basis growth of 1.80%, fuelled by investors’ renewed buying interest in some medium- and large-cap stocks.
Today, the market index, or All-Share Index, decreased by 79.68 basis points to close at 105,451.06, according to data from the Nigerian Exchange. Nonetheless, market activities inched higher, as the total volume and total value traded surged by 203.13% and 48.40%, respectively.
In its market note, Atlass Portfolios Limited told investors that approximately 1,483.93 million units valued at ₦19,393.72 million were transacted across 12,877 deals. In terms of volume, TANTALIZER led the activity chart, accounting for 10.37% of the total volume of traded on the exchange.
Other volume drivers include UNIVINSURE (6.81%), ACCESSCORP (6.64%), NB (5.34%), and HONYFLOUR (4.87%), rounding out the top five. NAHCO emerged as the most traded stock in value terms, accounting for 9.95% of the total value of trades on the exchange.
Lightweight stock, CILEASING, topped the advancers’ chart with a price appreciation of 10.00 percent. Other gainers include HONYFLOUR (+9.99%), TRANSEXPR (+9.89%), RTBRISCOE (+9.83%), NSLTECH (+9.46%), LIVESTOCK (+8.84%) and twenty-six others.
Twenty-five stocks depreciated, according to data from the Exchange. SUNUASSUR was the top loser, with a price depreciation of -9.99%. Other losers include as EUNISELL (-9.96%), JAIZBANK (-3.33%), AFRIPRUD (-3.21%), FBNH (-2.74%), and INTBREW (-1.85%).
Based on the trading directions, the market breadth closed positive, recording 32 gainers and 25 losers. Sectoral performance ended on a negative territory, as four of the five major market sectors went downward.
Today, the insurance sector dropped by -1.53%, followed by the banking sector, which lost -0.41%, consumer goods dipped by -0.16%, and the oil & gas sector fell by -0.08%. The industrial sector closed unchanged.
Overall, the equities market capitalisation of the Nigerian Exchange lost N48.59 billion to close at N64.30 trillion. #NGX Index Dips as Equities Investors Lose N49bn Cryptocurrencies Market Cap Rises as Bitcoin Pops Higher
