Due to persistent pressure on the local exchange, the Nigerian Exchange’s (NGX) equity market capitalization fell by around N49 billion on Tuesday.
Sell pressure in Oando Plc, which fell by 9.75%, and DANGSUGAR, which fell by 5.66%, were the main causes of the market loss. WAPCO fell by 4.08%, and ZENITHBANK fell by 1.81%.
A 0.09% decline in the market index was attributed to profit-taking on the local stock exchange. The bourse fall was caused by profit-taking in certain medium- and large-cap equities, despite the strong market breadth.
OANDO, DANGSUGAR, WAPCO and 21 others were major decliners in the local bourse, while the market index reduced by 86.52 basis points
Market activities declined. Total volume and total value traded for today decreased by -62.86% and -68.09%, respectively. Stockbrokers said approximately 361.57 million units valued at ₦6,163.05 million were transacted in 8,511 deals.
TRANSCORP was the most traded stock in terms of volume, accounting for 13.18% of the total volume of trades, followed by GTCO (10.50%), VERITASKAP (9.69%), FBNH (7.60%), and ACCESSCORP (7.48%) to complete the top 5 on the volume chart.
GTCO was the most traded stock in value terms, with 26.74% of the total value of trades on the exchange. OKOMUOIL topped the advancers’ chart with a price appreciation of 10.00 percent, trailed by JOHNHOLT, which gained 9.79%.
Other gainers are CONHALLPLC (+9.43%), NSLTECH (+9.09%), REGALINS (+7.14%), RTBRISCOE (+6.45%), and twenty others. Twenty-three stocks depreciated, according to data from the Nigerian Exchange. OANDO was the top loser, with a price depreciation of -9.75%.
Other losers are: ACADEMY (-8.00%), HONYFLOUR (-7.94%), DANGSUGAR (-5.66%), ZENITHBANK (-1.81%), and NB (-0.86%), which also dipped in price.
Today, the market breadth closed positive, recording 26 gainers and 23 losers. Sectoral performance was bearish as three sectors declined and one remained flat.
Consumer Goods dipped by 0.47%, the Banking index lost 0.41% and Industrial Goods dipped by 0.17%, spurred by negative investor sentiment in DANGSUGAR (-5.66%), ZENITHBANK (-1.81%) and WAPCO (-4.08%).
The sole gainer was the Insurance index (+0.81%), led by buying interest in CONHALLPLC (+9.43%). The Oil and Gas index remained flat. Overall, the equities market capitalisation declined by ₦48.86 billion to close at ₦56.13 trillion.
