Nigerian Stocks Value Falls by N30bn Amidst Delisting
The market value of all listed stocks in Nigerian market declined by N30.44 billion as regulator delisted of some inactive companies from the Exchange on Thursday.
The Nigerian Exchange (NGX) key performance indicators showed mixed performance- the All-share index declined marginally by 0.02%, while equities market capitalisation fell by 0.05%.
The contrasting movement in these indicators was influenced by the Nigerian Exchange decision to delist Capital Oil Plc, Goldlink Insurance Plc, and Medview Airline Plc”, from trading platform.
Trading data revealed that the market index fell 21.90 basis points in today’s trading session, reflecting a slight decline of 0.02%, to close at 105,525.26. Beyond the impact of the delisting, Atlass Portfolios Limited said the market downturn was driven by profit-taking activities in key stocks across major market sectors
Today, the market activities went down, as the total volume and total value of all transaction on the exchange decreased by 9.35% and 27.24% respectively. Stock analysts at Atlass Portfolios Limited told investors in an emailed note that approximately 397.12 million units valued at ₦8,743.31 million were transacted across 13,667 deals.
In terms of volume, UNIVINSURE led the activity chart, accounting for 12.54% of the total volume of trades consummated in the market, followed by ZENITHBANK (8.80%), ROYALEX (8.55%), UBA (8.55%), and FIDELITYBK (7.69%), rounding out the top five.
GTCO emerged as the most traded stock in value terms, accounting for 20.52% of the total value of all trades executed on the exchange.
Ticker: AFRIPRUD topped the advancers’ chart with a price appreciation of 9.76 percent, trailed by GUINEAINS (+9.52%), DAARCOMM (+8.33%), MANSARD (+7.87%), RTBRISCOE (+7.14%), TRANSCOHOT (+7.13%) and fourteen others.
At the close of trading session, thirty-two stocks depreciated, according to data from the Nigerian bourse. LIVESTOCK was the top loser, with price depreciation of -10.00%. Other decliners include PZ (-9.97%), CHAMPION (-7.82%), FIRSTHOLDCO (-4.58%), HONYFLOUR (-3.73%), and CADBURY (-2.75%).
Driven by investors’ sentiment, the market breadth closed negative, recording 20 gainers and 32 losers. In addition, the market sectoral performance was negative. Sectoral performance was bearish, with 4 out of 6 sectors closing negative.
The Consumer Goods (-0.66%), Banking (-0.36%), Industrial Goods (-0.23%), and Oil and Gas (-0.19%) indices all closed down as investors sold off INTBREW (-1.96%), FCMB (-3.19%), CUTIX (-8.73%), and OANDO (-2.19%), respectively. The Insurance index (+1.70%) was today’s sole gainer following renewed interest in MANSARD (+7.87%). Elsewhere, the Commodity Index closed flat.
Overall, the equities market capitalisation dropped by ₦30.44 billion to close at ₦66.16 trillion. Today, data showed that the month-to-date and year-to-date returns moderated by -0.1% and +2.5%, respectively. eTranzact International Declares N12.5k Final Dividend
