NGX Shrinks by N108bn as Investors Dump OANDO, ACCESS
Equities market capitalisation of the Nigerian Exchange (NGX) shrank by about N108 billion as investors dumped Oando energy and Access Holdings.
Hence, the market ended the day in the red, with key performance indicators declining by 0.18%. The All-Share Index reduced by 177.38 basis points to close at 98,050.12.
Despite a positive market breadth, profit-taking activities in some medium and large-scale stocks, such as OANDO, PRESCO, ACCESSCORP, and others, interrupted the bourse’s bullish momentum.
However, market activities improved as the total volume and total value traded for today increased by 26.22% and 13.51%, respectively.
In its market update, Atlass Portfolios Limited told investors that approximately 467.68 million units valued at N9,590.19 million were transacted across 10,659 deals.
FBNH was the most traded stock in terms of volume, accounting for 10.95% of the total volume of transactions condcuted in the market.
Other volume drivers include TANTALIZER (10.45%), WAPCO (8.50%), FIDELITYBK (5.70%), and ZENITHBANK (4.78%) to complete the top 5 on the volume chart.
WAPCO emerged as the most traded stock in value terms, accounting for 24.15% of the total value of trades on the exchange.
AUSTINLAZ topped the advancers’ chart for today with a price appreciation of 10.00 percent. Other gainers include EUNISELL (+9.98%), HMCALL (+9.95%), HONYFLOUR (+9.93%), SUNUASSUR (+9.93%), CADBURY (+9.79%) and twenty-nine others.
Twenty-three stocks depreciated, according to data from the Nigerian bourse. WAPIC was the top loser, with a price depreciation of -9.82%. Other decliners include UNIVINSURE (-8.82%), JAPAULGOLD (-8.26%), OANDO (-5.59%), ACCESSCORP (-3.36%), and FTNCOCOA (-1.06%).
Based on the trading direction, the market breadth closed positive, recording 35 gainers and 23 losers. Also, the market sector performance was positive, as three of the five major market sectors closed green.
The consumer goods sector grew by 0.39%, followed by the insurance sector, which popped up by 0.26%, while the industrial sector rose by 0.21%. The banking and oil & gas sectors dropped by -1.16% and -0.33%, respectively, due to the selling rally.
Overall, the equities market capitalisation of the Nigerian Exchange declined by N107.50 billion to close at N59.43 trillion. #NGX Shrinks by N108bn as Investors Dump OANDO, ACCESS FX Stability: CBN Sells 122.671m Dollars to 46 Authorised Dealers
