NGX Sheds N36bn as Investors Begin to Offload Stocks
The Nigerian Exchange (NGX) opens the week negative as market capitalisation sheds about N36 billion as investors begin to offload stocks again. Today, Access Holding Plc is listed as ACCESSCORP after the regulator announced the suspension on the ticker last week.
Trading data shows that following the bearish sentiment, performance indicators sloped downward by 0.14 per cent due to selling rallies in the banking and Oil & Gas sectors. Year to date returns moderated.
The Nigerian All-Share Index dipped by 66.00 basis points representing 0.14 per cent depreciation, to close at 46,898.23 points, according to NGX data. READ: Naira Sheds Value at Investors Window as Turnover Declines
As a result of selloffs, equity market capitalisation lost ₦35.57 billion, representing a waning of 0.14 per cent to close at ₦25.28 trillion, stocks traders said in separates reports.
Atlass Portfolios Limited said the market activities were mixed as the total volume traded inched up by 103.22 per cent while the total value dipped by 37.54 per cent.
Approximately 359.89 million units valued at ₦2.61 billion were transacted in 5,163 deals, according to data from the Nigerian Exchange on Monday. TRANSCORP top the position as the most traded stock in terms of volume, accounting for 25.56 per cent of the total volume of trades.
The stock was followed closely by STERLNBANK (14.10%), FIDELITYBK (12.97%), LINKASSURE (8.48%) and ACCESSCORP (4.30%) to complete the top five on the volume chart.
SEPLAT emerged as the most traded stock in value terms, with 14.11 per cent of the total value of trades on the exchange. BETA GLASS topped the advancers’ chart with a price appreciation of 9.92 per cent.
The company’s stock was trailed by LIVESTOCK (9.03%), ETI (3.51%), UACN (3.42%), ACCESSCORP (3.02%), AFRIPRUD (2.42%), NGXGROUP (2.13%), MTNN (1.47%), UBA (0.65%), GTCO (0.43%), WAPCO (0.21%) and seven (7) others.
On the contrary, eighteen (18) stocks depreciated, led by LEARNAFRCA with a price decline of 9.68 per cent to close at ₦1.96. In terms of market price, FCMB sheds 6.89%, TRANSCORP lost 6.54%, JAPAULGOLD dipped by 6.06%, ARDOVA fell 3.35%, and UBN declined 3.10%.
Also, HONYFLOUR was down 2.81%, ZENITH BANK slipped 2.28%, FBNH shrank 2.11% and FIDELITYBK tumbled by 0.61%.
However, the market breadth is at par, recording 18 gainers and losers, each. Sectoral performance was negative, as three of the five major sectors closed bearishly compared to the previous session.
The losers chart was led by Banking (-4.42%), Insurance (-0.30%), and Oil & Gas (-0.12%) while Consumer and Industrial Goods rose by 0.18% and 0.06%, respectively.
