NGX Tumbles on Sustained Rise in Executed Sell Orders
Increasing executed shares sell orders by stockbrokers pulled back the Nigerian Exchange (NGX) by N79 billion, the second day sell down witnessed in the new week despite earnings and dividend announcements.
According to trading data, equity investors’ bearish sentiment persisted to the third consecutive trading session as the market indicators plunged further by 0.31 percent. Stockbrokers told MarketForces Africa that the decline in market indicators was a result of sell down pressure in some bellwethers.
The Nigerian Exchange All-Share Index shed 146.15 basis points, representing a decrease of 0.31 percent to close at 47,057.24 points, according to Atlass Portfolios Limited.
Equity market capitalisation tumbled by ₦78.75 billion on Tuesday to close at ₦25.36 trillion while year to date returns also tracked lower. Also, the market activities were bullish as the total volume and value dipped by 16.55 per cent and 0.87 per cent, respectively, according to stockbrokers.
Approximately 238.22 million units valued at ₦5.09 billion were transacted in 4,826 deals. Today, GTCO led as the most traded stock in terms of volume, accounting for 13.58 per cent of the total volume of trades.
This was followed closely by ZENITH BANK (10.21%), FIDELITYBK (9.36%), TRANSCORP (8.98%) and NGXGROUP (7.23%) to complete the top five on the volume chart. Read: Treasury Yield Tumbles as Naira Steady Against Dollar
Again, GTCO emerged as the most traded stock in value terms, with 17.45 per cent of the total value of trades on the exchange. PRESCO led the gainers’ chart with a price appreciation of 10.00 per cent.
The palm oil producer stock lead performance was followed by OANDO which gained 5.68%, FLOURMILL rose 2.57%, NGXGROUP surged 1.84%, ARDOVA inched up 1.57%, AFRIPRUD jumped 1.54%.
TRANSCORP inched up 0.87%, FIDELITYBK rose 0.35%, and ZENITH BANK grew 0.19% and nine (9) others. Similarly, twenty-one (19) stocks depreciated, led by COURTVILLE with a price depreciation of 7.27 per cent to close at ₦0.51.
UNILEVER slumped 4.36%, BUAFOODS fell 4.04%, UCAP down 1.34%, MTNN dropped 1.01%, ACCESS slow down by 0.97%, UBA bumped 0.58%, ETI knocked off 0.41% and GTCO share price jerked down 0.37%.
As a result, the market breadth closed negatively, recording 18 gainers and 21 losers. Meanwhile, the sectorial performance was bullish as three of the five sectors closed positively as against the previous session.
Insurance gained 2.35%, Oil & Gas expands 0.89% and Consumer Goods 0.04%, whereas, the Banking and Industrial Goods sectors declined by 0.17% and 0.01%, respectively. #NGX Tumbles on Sustained Rise in Executed Sell Orders
