Nigerian Exchange Shrinks as Equities Investors Lose N35bn
Equities market capitalisation of the Nigerian Exchange (NGX) declined further due to sustained sell pressures, and this time financial stocks were the main target. The local bourse closed today’s trading session in negative territory, as key market performance indicators dropped by 0.05% apiece while year-to-date returns moderated.
The overall market downturn was primarily driven by persistent sell pressure in key stocks, such as UNILEVER, ACCESSCORP, AFRIPRUD, and others. In its market update, Atlass Portfolios Limited told investors that the continuous sell-offs over the past five trading sessions have resulted in a cumulative loss of ₦763 billion in investors’ wealth.
The NGX All-Share Index) decreased by 56.36 basis points today, representing a decline of 0.05% to close at 104,858.77. Today, the market activities were down, as the total volume and total value traded decreased by 77.28% and 49.51%, respectively.
Stockbrokers told investors that approximately 310.53 million units valued at N6,247.90 million were transacted across 10,182 deals.
In terms of volume, FIDELITYBK led the activity chart, accounting for 12.90% of the total volume of traded, followed by VERITASKAP (11.98%), NB (8.71%), ZENITHBANK (7.38%), and ACCESSCORP (6.76%).
ZENITHBANK emerged as the most traded stock in value terms, accounting for 17.17% of the total value of all transactions consummated on the exchange. CWG topped the advancers’ chart for today with a price appreciation of 9.64 percent, trailed by VERITASKAP (+8.41%), DEAPCAP (+7.61%), WAPIC (+4.26%), WEMABANK (+2.37%), LINKASSURE (+2.36%) and eight others.
Twenty-eight stocks depreciated, according to data from the local bourse. LIVESTOCK was the top loser, with a price depreciation of -9.57%, followed by CHAMS (-5.16%), ELLAHLAKES (-4.46%), UNILEVER (-3.64%), ACCESSCORP (-1.79%), and ZENITHBANK (-1.37%).
Today, the market breadth closed largely negative, recording 14 gainers and 28 losers. Also, the sectoral performance was negative, as two of the five major market sectors improved.
The consumer goods sector increased by 0.39%, and then the insurance sector advanced by 0.13%. The banking sector was down by 0.43%, while the industrial and oil & gas sectors closed unchanged.
Overall, the equities market capitalisation fell by N35.35 billion, representing a drop of 0.05%, to close at ₦65.75 trillion. #Nigerian Exchange Shrinks as Equities Investors Lose N35bn South African Market on Edge Before Budget Shut Down
