Nigerian Exchange Opens in Red, Equities Investors Lose N363bn
The Nigerian Exchange (NGX) All-Share Index shrank by 0.41% or 41 basis points as investors took profit across sectoral names due to negative sentiment.
The domestic bourse opened the new week and new month on a bearish note, as key market performance indicators declined by 0.41%.
The local bourse extended its negative momentum from last Friday, weighed down by sustained sell pressure in large and midcap stocks, such as ETERNA, WAPCO, ZENITHBANK, among others.
Trading details revealed that NGX All-Share Index shed 573.31 basis points today, representing a drop of 0.41% to close at 139,722.19. Market activities were mixed today as the total volume of all trades consummated decreased by -6.24%, while the total value increased by +42.21%.
In a note, Atlass Portfolio Limited told investors that approximately 407.98 million units valued at ₦14,776.75 million were transacted across 33,859 deals.
In terms of volume, FCMB led the activity chart, accounting for 13.76% of the total volume of all trades consummated in the local bourse, followed by ACCESSCORP (7.87%), FIDELITYBK (6.45%), NSLTECH (5.51%), and AIICO (4.37%), rounding out the top five.
ARADEL emerged as the most traded stock in value terms, accounting for 36.02% of the total value of all trades on the exchange. SOVRENINS topped the advancers’ chart with a price appreciation of 10.00 percent, trailed by SCOA (+9.83%), CORNERST (+7.98%), GUINEAINS (+7.75%), NSLTECH (+4.71%), UNIVINSURE (+4.17%) and nine others.
Thirty-two stocks depreciated, according to data obtained from the Nigerian Exchange. VERITASKAP, ELLAHLAKES, and ETERNA were the top losers, with a price depreciation of -10.00%.
Other decliners include TANTALIZER (-7.26%), OANDO (-6.25%), WAPCO (-5.38%), HONYFLOUR (-4.21%), and ZENITHBANK (-2.42%).
Stockbrokers reported that market breadth closed negative, recording 15 gainers and 32 losers. Also, the market sectoral performance was negative as all the five major market sectors tracked by Atlass Portfolio Limited were down.
The Banking sector declined by – 1.12%, followed by the Industrial sector which depreciated by -0.85% the Oil & Gas sector dipped by -0.45%. The Insurance sector fell by 0.05%, and the Consumer goods sector slipped by -0.03%.
Overall, the equity market capitalisation fell by ₦362.77 billion, representing a decline of 0.41%, to close at ₦88.41 trillion. #Nigerian Exchange Opens in Red, Equities Investors Lose N363bn#
