Nigerian Exchange Falls by N44bn as Sell Pressures Persist
The Nigerian Exchange, NGX, equities market capitalisation fell by more than N44 billion on Friday as sell pressures on stocks persisted. Investors took profit amidst corporate earnings release, and negative reactions to the monetary authority’s interest rate pause.
Trading activities ended on a negative note, as key market performance indicators dropped by 0.07%. Stockbrokers said the downturn was driven by profit-taking in some medium and large-scale stocks such as OANDO, ETERNA, ACCESSCORP, and others.
The market index or All-Share Index decreased by 71.10 basis points today, representing a drop of 0.07% to close at 108,497.40. Also, equities market activities were down today, as the Total Volume and Total Value trades dropped by 25.05% and 0.75% respectively.
In its note, Atlass Portfolios Limited told investors that approximately 315.72 million units valued at ₦8,361.60 million were transacted across 13,345 deals.
In terms of volume, ELLAHLAKES led the activity chart, accounting for 12.84% of the total volume of traded in the market, followed by FIDELITYBK (6.67%), ZENITHBANK (6.36%), UBA (6.31%), and ACCESSCORP (5.32%), rounding out the top five.
ARADEL emerged as the most traded stock in value terms, accounting for 14.36% of the total transactions value conducted on the exchange.
CHAMPION topped the advancers’ chart for today with a price appreciation of 9.87 percent, trailed by DANGSUGAR (+8.95%), OMATEK (+8.00%), DAARCOMM (+7.94%), DEAPCAP (+7.61%), REDSTAREX (+6.67%) and nineteen others.
Thirty-two stocks depreciated, according to data from the Nigerian bourse. IKEJAHOTEL was the top loser, with a price depreciation of -7.56%
Other decliners include ROYALEX (-5.62%), NEIMETH (-5.39%), OANDO (-4.92%), HONYFLOUR (-2.89%), and ACCESSCORP (-1.49%).On Friday, the market breadth closed negative, recording 25 gainers and 32 losers. Also, the market sectoral performance was negative.
Three out of the five major market sectors slide. The oil & gas sector dropped by 0.58%, followed by the banking sector which declined by 0.55%, and the Insurance sector fell by 0.25%.
The Consumer goods and Industrial sectors were up by 0.63% and 0.10% respectively. Overall, the equities market capitalisation of the Nigerian Exchange fell by ₦44.31 billion, representing a decline of 0.07%, to close at ₦67.61 trillion. #Nigerian Exchange Falls by N44bn as Sell Pressures Persist#
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