Nigerian Exchange Loses N478bn as Investors Book Profit
Equity investors lost N478 billion on the Nigerian Exchange (NGX) due to sustained bearish activity. The stock market closed on a negative note, with key performance indicators mixed due to new shares being listed. The All-Share Index (ASI) declined by -0.35%, while the market capitalisation plunged by -0.30%.
Key indicators diverged due to an additional 600,000,000 shares listed by Fidson Healthcare Plc at N35.00 Per Share. Specifically, the market index fell by -874.00 basis points to close at 246,686.66 points, while market capitalisation fell by ₦478.68 billion to close at ₦158.22 trillion.
Decliners include PZ, FIRSTHOLDCO, ETERNA, ZENITHBANK, TIP, among others. Stockbrokers reported that total volume of all trades and the total value traded declined by -36.27% and -33.82%, respectively.
Approximately 718.77 million units valued at ₦29,306.15 million were transacted across 71,683 deals. ACCESSCORP accounted for 15.77% of all trading volume in the local bourse, followed by ZENITHBANK (5.31%), CONHALLPLC (4.94%), NEIMETH (4.02%), and STERLINGNG with 3.93%.
ZENITHBANK topped value chart, accounting for 16.42% of the total value of all transactions executed in the stock market on Tuesday.
INTENEGINS topped the gainers chart, up +9.86%, trailed by TRANSEXPR (+7.14%), NEIMETH (+6.80%), LIVINGTRUST (+5.00%), ABBEYBDS (+4.44%), FIDELITYBK (+3.95%), and eight others.
A total of thirty-eight (38) stocks depreciated. With a price depreciation of -10.00% each, CWG and PZ topped the worst performers’ chart, followed by ABCTRANS (-9.95%), WEMABANK (-9.09%), SOVRENINS (-8.16%), UNIVINSURE (-7.34%), and TIP (-7.21%).
Hence, market breadth closed on a negative note, with 14 gainers and 38 losers. The sectoral performance was negative, with four of the five major market sectors declining.
The Banking sector declined by -1.63%, followed by the Consumer goods sector (-0.50%), the Insurance sector (-0.44%), and the Oil & Gas sector (-0.04%). Only the Industrial goods sector remained unchanged (0.00%). Naira Rises to N1361/$, NFEM Interbank FX Turnover Slides
