NGX Tumbles as Investors Offload BUA, Transcorp
The Nigerian Exchange (NGX) year-to-date return slumped to 7.11% on Friday as equities investors booked profits on some mid to large-capitalised companies’ stocks -Especially BUA Cement Plc, and Transcorp among others.
According to stockbrokers, the trading position was negative following weak sentiment in the market, marking the second week of negative trades, which is a reversal of the previous month’s performance.
Consequently, key performance indicators declined by -0.06% over a slowdown in buying momentum that had formed despite uncertainties in the economy.
Data from the local bourse indicate that investors lost by ₦17 billion on Friday. Last week, the stock market declined by N479 billion over a 5-day trading session. Today, the Nigerian Exchange All-share index inched lower by 31.55 basis points to close at 54,892.53.
However, market activities were up, as the total volume and total value traded for the day grew by +16.72% and +176.91% respectively, according to stockbrokers at Atlass Portfolios Limited.
It was noted that approximately 137.56 million units valued at ₦3,873.42 million were transacted in 2,912 deals. FIDELITYBK was the most traded stock in terms of volume, accounting for 15.63% of the total volume of trades.
The tier-2 lender was followed by GTCO (10.83%), NEIMETH (10.21%), UBA (9.33%), and TRANSCORP (6.49%) to complete the top 5 on the volume chart. MTNN was the most traded stock in value terms, with 25.31% of the total value of trades on the exchange.
NPFMCRFBK topped the advancers’ chart with a price appreciation of 6.94 per cent, trailed by GEREGU (6.25%), LASACO (5.00%), CHAMS (4.17%), JAPAULGOLD (3.57%), and eight (8) others.
Eleven stocks depreciated, where AIICO was the top loser, with a price depreciation of -5.00%, as LINKASSURE (-4.76%), INTBREW (- 2.25%), TRANSCORP (-2.19%), and BUACEMENT (-1.61%) also dipped in price.
Trading results showed that the market breadth closed positive, recording 13 gainers and 11 losers while the performance of NGX indices closed negative.
Today, four of the five major sectors declined; topped by the Insurance sector (-1.01%), followed by the Industrial sector (-0.66%), the Banking (-0.25%), and the Consumer goods sector (-0.21%). The Oil & Gas sector closed unchanged.
Overall, equities market capitalisation declined by ₦17.19 billion to close at ₦29,903.33 trillion from ₦29,920.52 trillion the previous day. #NGX Tumbles as Investors Offload BUA, Transcorp
