Stockholders Lose N256bn as FirstHoldco, Unilever, Honeywell Dip
Stockholders on the Nigerian Exchange (NGX) lost more than N256 billion on Tuesday as shares of FirstHoldco, Unilever, Honeywell and other companies declined.
The local bourse closed in the red, with key performance indicators down 0.16%. For the fifth straight session, market indicators weakened amid continued profit-taking in medium- and large-cap stocks, especially in the banking sector.
Stockbrokers mentioned that FIRSTHOLDCO, UNILEVER, ETI, HONYFLOUR, among others, posted significant losses. The All-Share Index fell by -394.36 basis points to close at 250,273.50, while market capitalisation declined by ₦256.05 billion to close at ₦162.50 trillion.
Total volume and total value of all shares traded on the exchange declined by 33.82% and 11.75%, respectively. In its market update, Atlass Portfolio Limited reported that approximately 579.26 million units, valued at ₦36,074.23 million, were transacted in 41,072 deals.
Ticker: ACCESSCORP accounted for 33.40% of all shares traded in the market, followed by UBA (5.68%), ZENITHBANK (5.34%), FIDELITYBK (5.19%), and GTCO (3.39%).
ARADEL was the value driver, accounting for 21.18% of all transaction value on the local bourse, making it the most traded stock on the exchange.
TRIPPLEG led gains at +9.77%, followed by LIVESTOCK (+9.74%), NPFMCRFBK (+9.52%), SOVRENINS (+8.23%), WAPIC (+7.69%), GUINEAINS (+7.35%), and twenty others.
A total of thirty-four stocks depreciated. With a price depreciation of -9.88%, CMFC topped the worst performers’ chart, followed by ABCTRANS (-9.70%), CWG (-7.23%), ZICHIS (-6.58%), NEIMETH (-6.17%), and FIRSTHOLDCO (-5.09%).
Hence, market breadth closed negative, with 26 gainers and 34 losers. Sectoral performance was negative today, with three of the five major market sectors declining.
The Banking sector decreased by -1.25%, followed by the Consumer goods sector (-0.04%), and the Oil & Gas sector (-0.002%). The Insurance sector and the Industrial goods sector rose by 0.53% and 0.003%, respectively.
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