Nigerian Exchange Shrinks by N167bn as Investors Exit Positions

Nigerian Exchange Shrinks by N167bn as Investors Exit Positions

Nigerian Exchange (NGX) market capitalisation plunged as equities investors lost about N167 billion to negative trading activities by sell-side actors. The market opened the week on a negative note, as key market performance indicators declined by 0.24% due to sell-side pressure.

Stockbrokers saw profit-taking activities in recently appreciated medium- and large-cap stocks in some major market sectors.  Notable large-cap decliners included NB, MTNN, and DANGSUGAR, among others.

According to data obtained from the Nigerian Exchange, the All-Share Index decreased by 265.42 basis points today, representing a drop of 0.24% to close at 108,467.98. NGX market activities were down today, as the total volume and total value of all trades conducted on the exchange reduced by 10.73% and 5.09%, respectively.

In a note, Atlass Portfolios Limited told investors that approximately 409.93 million units valued at ₦10,596.33 million were transacted across 16,441 deals. In terms of volume, TANTALIZER led the activity chart, accounting for 11.89% of the total volume of all trades consummated in the Nigerian stock market, followed by VFDGROUP (11.81%), ACCESSCORP (7.11%), ZENITHBANK (5.88%), and AIICO (4.62%), rounding out the top five.

MTNN emerged as the most traded stock in value terms, accounting for 40.93% of the total value of trades on the exchange.  MEYER, MULTIVERSE, and SMURFIT topped the advancers’ chart with a price appreciation of 10.00 percent each.

Other gainers include BETAGLAS with (+9.99%) growth, HMCALL (+9.88%), ABBEYBDS (+9.86%), CAVERTON (+9.84%), NPFMCRFBK (+9.74%), and thirty others. Twenty-six stocks depreciated, according to data from the Nigerian bourse.

ETRANSACT was the top loser, with a price depreciation of -10.00%. Other decliners include CILEASING (-8.31%), LINKASSURE (-8.06%), STERLINGNG (-5.79%), HONYFLOUR (-3.08%), and DANGSUGAR (-2.26%).

Still, the market breadth closed positive, recording 38 gainers and 26 losers. Also, the market sectoral performance was positive, as three of the five major market sectors inched higher.

The oil & gas sector grew by 0.36%, and the insurance sector popped up by 0.29%, while the industrial sector grew by 0.12%. The consumer goods and banking sectors both recorded a loss of 0.54% and 0.24%, respectively.

Overall, the equities market capitalisation of the Nigerian Exchange lost ₦166.82 billion, representing a decline of 0.24%, to close at ₦68.17 trillion. #Nigerian Exchange Shrinks by N167bn as Investors Exit Positions Nigerian Exchange Index Hits All-time High in Explosive Rally