Nigerian Exchange Indicators Sink as Investors Lose N904bn
The Nigerian Exchange (NGX) All-Share Index (ASI) declined by 58 basis points, or 0.58%, on Tuesday amid sell pressure across key sectors. Investors took profits in stocks that recently recorded significant uptrends.
The All-Share Index fell by -1,408.82 basis points to close at 241,750.15, while market capitalisation declined by ₦904.40 billion to close at ₦155.15 trillion.
However, market activity was up today, with total volume and total value traded on the local bourse increasing by 31.09% and 71.57%, respectively. Stockbrokers said approximately 1,268.25 million units valued at ₦75,225.88 million were transacted across 102,665 deals.
FCMB accounted for 12.68% of total market volume, followed by GTCO (7.43%), ACCESSCORP (6.46%), ZENITHBANK (4.98%), and FIDELITYBK (3.82%). GTCO topped the value chart, accounting for 17.43% of all the transactions executed in the local bourse.
RTBRSICOE, VITAFOAM, MCNICHOLS and ZICHIS topped the gainers’ chart, up by+10.00% each, closely trailed by CAP (+9.99%), DANGSUGAR (+9.98%), CONHALLPLC (+9.97%), FTNCOCOA (+9.92%), DEAPCAP (+9.57%), and thirty-six others.
A total of twenty-six stocks depreciated. With a price depreciation of -10.00%, GUINNESS topped the worst performers’ chart, followed by UNIONDICON (-9.82%), AIICO (-9.28%), WEMABANK (-8.72%), MTNN (-8.63%), and SOVRENINS (-8.33%).
Hence, the market breadth closed on a positive note, with 45 gainers and 26 losers. Sectoral performance was mixed in today’s session, with three of six indices closing positive.
The Industrial Goods (+2.49%) index led the gainers, propelled by positive sentiments in DANGCEM (+7.22%). The Insurance (+0.94%) and Consumer Goods (+0.40%) indices also closed higher, buoyed by interest in NEM (+6.76%) and DANGSUGAR (+9.98%), respectively.
Conversely, the Oil & Gas (-2.91%) and Commodity (-2.03%) indices led indices regressed, dragged by selloffs in ARADEL (-5.81%), while Banking (-1.22%) closed lower, dragged by WEMABANK (-8.27%).
