NGX Loses N394bn as Investors Dump Cadbury, Transcorp, Access
The Nigerian Exchange (NGX) lost weight due to a more than N394 billion decline in market capitalisation following sell pressure on Cadbury, Transnational Corporation, or Transcorp , and Access Holdings Plc, among other decliners.
On Tuesday, the domestic bourse ended trading activities a negative note, with key performance indicators falling by 0.66%. The Nigerian Exchange All-Share Index declined by 650.83 basis points in today’s trading session to close at 98,058.07 points.
This downturn extended the previous day’s losses, driven by sell-off in some medium and large-scale stocks include but not limited to CADBURY, ARADEL, TRANSCORP, and others.
In a market update, equites market analysts at Atlass Portfolios Limited said investors’ wealth declined by ₦843 billion over the last two days.
Nonetheless, market activities inched higher as the total volume and total value traded for today increased by 13.06% and 96.08% respectively. Atlass Portfolios Limited told investors that approximately 399.32 million units valued at ₦8,925.72 million were transacted across 9,547 deals.
UBA was the most traded stock in terms of volume, accounting for 22.71% of the total volume of traded on the Nigerian Exchange trading platform. Other volume drivers include CHAM (20.25%), TRANSCORP (7.96%), ZENITHBANK (5.74%), and ACCESSCORP (3.95%).
UBA also emerged as the most traded stock in value terms, accounting for 29.26% of the total value of trades on the exchange. NNFM topped the advancers’ chart for today with a price appreciation of 10.00 percent, trailed by EUNISELL which gained +9.87%.
Other gainer include TIP (+9.81%), LIVESTOCK (+7.73%), CWG (+4.96%), NEIMETH (+4.79%) and nineteen others. Thirty-two stocks depreciated, according to stockbrokers.
CADBURY was the top loser, with a price depreciation of -9.89%. Other losers include ROYALEX (-9.72%), ARADEL (-8.33%), TRANSCORP (-7.41%), ACCESSCORP (-4.65%), and ZENITHBANK (-2.26%).
Citing data from the Nigerian bourse, stockbrokers reported that the market breadth closed negative, recording 25 gainers and 32 losers. Likewise, the market sector performance was negative, as three of the five major market sectors were down.
The Banking sector declined by -1.46%, followed by the Industrial sector which fell by -0.33%, while the Consumer goods sector lost -0.01%. The Insurance and Oil & Gas sectors dropped by 0.18% and 0.03% respectively.
Overall, the equities market capitalisation of the Nigerian Exchange lost ₦394.37 billion to close at ₦59.42 trillion. #NGX Loses N394bn as Investors Dump Cadbury, Transcorp, Access Ghana to Import Petroleum from Dangote Refinery – Official
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