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
