Transcorp Hotels, Banks Stock Drag NGX Lower by N65bn
The equities market capitalisation of the Nigerian Exchange (NGX) declined by about N65 billion due to sharp selloffs in Transcorp Hotels, and bank shares on Thursday. The Nigerian Exchange All-Share index tumbled as the market recorded significant sell side activities in Zenith Bank, FBN Holdings, Transcorp Hotels, and other stocks.
According to data from the local bourse, the All-Share Index decreased by 0.12 percent, losing 114 points to settle at 95,718.05, compared to Wednesday’s 95,831.51. As a result, the year-to-date return moderated to 28.01 percent, tracking at a distance from the annual inflow rate. However, market breadth closed positive with 22 gainers and 18 losers.
However, market activities were mixed as the total volume traded for the day increased by 9.17%, while the total value traded dropped by 19.28%. Stockbrokers said approximately 393.62 million units valued at ₦5,853.80 million were transacted across 8,243 deals.
UNIVINSURE was the most traded stock in terms of volume, accounting for 17.34% of the total volume of trades, followed by CHAMS (8.60%), OANDO (7.59%), TRANSCORP (7.15%), and ACCESSCORP (5.77%) to complete the top 5 on the volume chart.
OANDO emerged as the most traded stock in value terms, accounting for 22.11% of the total value of trades on the exchange. ACADEMY topped the advancers’ chart with a price appreciation of 10.00 percent.
Also on the gainers chart were OANDO (9.99%) RTBRISCOE (+9.78%), IMG (+9.09%), TANATALIZER (+8.77%), DEAPCAP (+8.51%), and fifteen others. Eighteen stocks depreciated, according to market data for the day. TRANSCOHOT was the top loser, with a price depreciation of -10.00%.
Other decliners include CHAMS (-9.72%), ETERNA (-9.55%), IKEJAHOTEL (-9.09%), PRESTIGE (-7.69%), and BUAFOODS (-0.24%).
On sectoral performance, the Banking (-0.82%), Oil & Gas (-0.46%) and Consumer Goods (-0.11%) were negative due to selloffs in STANBIC (-4.74%), ETERNA (-9.55%) and BUAFOODS (-0.24%). Elsewhere, Insurance (+0.44%) gained traction from appreciation in AIICO (+3.67%), while the Industrial Goods index closed flat.
Overall, the equities market capitalisation of the Nigerian Exchange closed at N54.98 trillion, with investors losing N64.98 billion. #Transcorp Hotels, Banks Stock Drag NGX Lower by N65bn Money Market Rates Climb on Liquidity Pressure
