Nigerian Exchange Index Dips, Investors Lose N41bn
The Nigerian stock market reversed its bullish trend on Wednesday as investors took profit across key sectoral indices in the local bourse.
The Nigerian Exchange (NGX) All-Share Index (ASI) fell by 0.03% to close at 246,019.17 points, while the year-to-date (YTD) return moderated to +58.10%.
Consequently, market capitalisation declined by ₦40.99 billion, closing at ₦158.91 trillion as investors trimmed holdings in NASCON, BETA Glass and Computer Warehouse Group among others.
Despite the marginal decline in the benchmark index, investor sentiment remained positive, with market breadth settling at 1.1x, several stockbrokers said in their reports. The market recorded 41,475 transactions, with 426.84 million shares changing hands, valued at ₦28.44 billion.
Market breadth stood at 1.10x, with 33 gainers and 30 losers.
Market activity levels declined as total volume fell to 426.66 million, trade value to N28.27 billion, and the number of deals to 41,391, compared to the last trading session, when 651.24 million units of shares valued at N40.75 billion were executed in 43,674 deals.
ACCESSCORP topped the volume chart with 33.22Mn units, and ARADEL led the value chart with N4.14Bn worth of trade
A total of 33 stocks advanced. The gainers list was led by TRIPPLEG (10.00%), SOVRENINS (9.71%), and OANDO (9.43%), while the losers list was topped by NASCON (- 10.00%), BETAGLAS (-9.98%), and ACADEMY (-9.76%)
Sectoral performance was mixed. The Insurance sector (+2.72%) recorded the strongest gain, followed by Oil/Gas (+0.26%) and Industrial Goods (+0.23%).
Conversely, the Banking sector (- 0.59%) and Consumer Goods sector (-0.21%) closed lower, while the Commodity sector remained unchanged at 0.00%.
Trading activity weakened during the session, as total deals, volume, and turnover declined by 5.22%, 34.47%, and 30.25%, respectively. #Nigerian Exchange Index Dips, Investors Lose N41bn# NGX Index Dips as Investors Offload FirstHoldco, Fidelity Bank
