Equities investors lost more than N1.3 trillion as the Nigerian Exchange (NGX) opened the week with negative sentiment in key sectoral indices, the second bearish run.
The Nigerian Exchange (NGX) trading platform was run down by bearish activities, dragging key market performance indicators lower by 84 basis points.
The downward trend, which started last week, extended with profit-taking in recently appreciated mid-cap and blue-chip stocks across major sectors.The Industrial goods and Insurance sectors led losses, driven by selloffs in BUACEMENT, among others.NGX All-Share Index (ASI) fell by -2,049.65 basis points in today’s trading session, indicating a -0.84% decline to close at 241,749.11. Also, the stock market capitalisation declined by ₦1,315.28 billion, representing a -0.84% decline, settling at ₦155.13 trillion.EconomicsHowever, market activity was up today, with the total volume and the total value of all trades executed in the local bourse increasing by +18.64% and +14.81%, respectively.
Stockbrokers reported that approximately 523.54 million units valued at ₦22,2745.57 million were transacted across 59,945 deals.FCMB topped the volume drivers in the market, accounting for 19.64% of all units traded, followed by INTBREW (5.14%), ACCESSCORP (4.76%), MCNICHOLS (3.89%), and STANBIC (3.53%).SEPLAT drove transaction value, accounting for 16.27% of all trade value, making it the most actively traded on the exchange.NIDF topped the gainers chart, up by +9.97%, trailed by INTBREW (+9.77%), NAHCO (+8.36%), UACN (+8.11%), DAARCOMM (+6.67%), VITAFOAM (+5.87%), and thirteen others. A total of forty stocks depreciated, according to data obtained from the Nigerian bourse.Nigerian Treasury BillsWith a price depreciation of -10.00%, PZ topped the worst performers’ chart, followed by BUACEMENT (-9.99%), REDSTAREX (-9.98%), RTBRISCOE (-9.70%), CILEASING (-9.38%), and CAVERTON (-9.01%).
Hence, market breadth closed on a negative note, with 19 gainers and 46 losers. Sectoral performance was negative today, with four of the five major market sectors declining.The Industrial goods sector led by -3.28%, followed by the Insurance sector (-2.18%), the Banking sector (-1.44%), and the Oil & Gas sector (-0.09%). Only the Consumer goods sector increased by +0.59%.
Source: The Marketforces
