Nigerian Equities Market Shrinks as Investors Lose N25bn
The equities market capitalisation of the Nigerian Exchange (NGX) slumped by about N25 billion on Wednesday due to negative price movements in GTCO, MTN Nigeria, and Dangote Sugar Plc, among others.
According to data from the local bourse, key performance indicators plunged. MTNN (-3.40%), DANGSUGAR (-1.44%) and GTCO (-0.22%) drove the day’s decline, which masked positive sentiment in FBNH (+3.94%) and UBA (+3.70%), stockbrokers said in an emailed note.
The Nigerian Exchange All-Share Index dropped by 43.27 basis points today, representing a decrease of -0.04% to close at 100,032.32. Trading results showed that market activities improved. Total volume and total value traded for the day increased by +198.41% and +35.71%, respectively.
Stockbrokers said approximately 1,099.30 million units valued at ₦10,076.41 million were transacted across 8,720 deals on the Nigerian bourse. JAIZBANK was the most traded stock in terms of volume, accounting for 48.10% of the total volume traded.
The Islamic lender was followed by CUTIX (17.71%), ZENITHBANK (7.08%), UNIVINSURE (3.30%), and FCMB (3.08%) to complete the top 5 on the volume chart. ZENITHBANK emerged as the most traded stock in value terms, with 30.85% of the total value of trades on the exchange.
UCAP topped the advancers’ chart with a price appreciation of 10.00 percent, trailed by AFRIPRUD, which grew by +9.88%. Other gainers are CUTIX (+9.86%), OANDO (+5.62%), JBERGER (+4.79%), SUNUASSUR (+4.32%), and twenty-one others. Trading data showed that fifteen stocks depreciated due to negative investors’ perception.
RTBRISCOE was the top loser, with a price depreciation of -5.71%. Other losers include FTNCOCOA (-4.44%), TANTALIZER (-4.26%), NEIMETH (-3.53%), MTNN (-3.40%), and WEMABANK (-2.26%). At the end of the trading session, the market breadth closed positive, recording 27 gainers and 15 losers.
Sectoral performances were mixed, with the Banking (+1.09%), Oil and Gas (+0.05%), and Industrial Goods (+0.01%) indexes bullish on the back of buying interest in FBNH (+3.94%), OANDO (+5.62%), and JBERGER (+4.79%) respectively.
Conversely, Consumer Goods (-0.01%) and Insurance (-0.36%) witnessed bearish sentiment on account of selloffs in DANGSUGAR (-1.44%) and MANSARD (-2.50%), respectively.
Overall, the equities market capitalisation of the Nigerian Exchange declined by ₦24.50 billion to close at ₦56.65 trillion. #Nigerian Equities Market Shrinks as Investors Lose N25bn Stanbic IBTC Adds Fixed Income Asset into Securities Lending Services
