Nigerian Exchange Sheds N266bn as BUA Cement, Wema Bank Fall
The Nigerian Exchange, NGX, market capitalisation fell by about N266 billion as sell pressures hit BUA Cement, Wema Bank and others. The market index slipped, and year to date return moderated on Tuesday after the consumer price index showed inflation rate declined to 23.18% in February.
Due to profit taking activities in the equities market, NGX key performance indicators declined sharply, losing 40 basis points or 0.40% on the day.
The down trend was as a results of profit-taking activities in some medium and large-scale stocks such as BUACEMENT, UBA, FIRSTHOLDCO, and others. The All-Share Index decreased by 423.48 basis points today, representing a drop of 0.40% to close at 105,375.69.
However, the market activities were mixed, as the total volume of all transactions consummated in the local bourse dropped by 26.71%, while the total value of shares traded increased by 16.62%.
In its note, Atlass Portfolios Limited told investors that approximately 349.98 million units valued at ₦8,221.16 million were transacted across 11,230 deals.
In terms of volume, ACCESSCORP led the activity chart, accounting for 10.51% of the total volume of all trades consummated, followed by UNIVINSURE (8.60%), FIDELITYBK (8.26%), JAIZBANK (6.29%), and ZENITHBANK (5.59%).
Ticker: ZENITHBANK emerged as the most traded stock in value terms, with 11.32% of the total value of trades on the exchange.
NEIMETH topped the advancers’ chart with a price appreciation of 10.00 percent, trailed by NNFM (+9.99%), CUSTODIAN (+9.69%), SUNUASSUR (+7.99%), GUINEAINS (+7.69%), WAPIC (+7.02%) and twenty-two others.
Twenty-two stocks depreciated, according to data from the Nigerian Exchange. BUACEMENT was the top loser, with a price depreciation of -10.00%.
Other decliners include ELLAHLAKES (-4.82%), WEMABANK (-4.19%), FIRSTHOLDCO (-2.28%), HONYFLOUR (-1.52%), and OANDO (-0.69%) also dipped in price.
Today, the market breadth closed positive, recording 28 gainers and 22 losers. However, the market sectoral performance was negative, as three of the five major market sectors were down.
The Industrial sector declined by 3.39%, followed by the Banking sector which dipped by 0.70%, and the Oil & Gas sector fell by 0.06%. The Insurance and Consumer goods sectors grew by 1.11% and 0.17% respectively.
Overall, the equities market capitalisation of the Nigerian Exchange fell by ₦265.55 billion, representing a decline of 0.40%, to close at ₦66.08 trillion. # Nigerian Exchange Sheds N266bn as BUA Cement, Wema Bank Fall#
Most Governments Not Well Prepared to Prevent, Address Illicit Trade – TRACIT
