Equities investors lost more than N448 billion in the Nigerian stock market on Monday due to strong selling rallies. The Nigerian equity market began the new week on a negative trajectory as sell side actors went on rampage, causing key performance indicators to dip by 0.74%.
The Nigerian Exchange All-Share Index fell by 740.01 basis points in today’s trading session to close at 98,708.90 points. The trading results halted last week’s positive streaks. The market experienced profit-taking in some medium- and large-scale stocks.
BUACEMENT, FBNH, and UBA were top stocks targeted for selloffs in the market after a strong weekly positive recorded of N835 billion last week. Stockbrokers said equities market activities were down, as the total volume and total value traded for today dropped by 23.37% and 52.22% respectively.
In its market update, Atlass Portfolios Limited told investors that approximately 353.18 million units valued at ₦4,552.12 million were transacted across 9,417 deals.
CHAMS was the most traded stock in terms of volume, accounting for 23.98% of the total volume traded on NGX. Other volume drivers include UBA (7.65%), ACCESSCORP (6.30%), MCNICHOLS (4.63%), and JAPAULGOLD (4.31%) to complete the top 5 on the volume chart.
UBA emerged as the most traded stock in value terms, accounting for 17.37% of the total value of trades on the exchange. EUNISELL topped the advancers’ chart for today with a price appreciation of 10.00 percent, trailed by LIVESTOCK with +9.97% price uptick.
Other gainers include TRANSCORP (+9.95%), RTBRISCOE (+9.84%), JAIZBANK (+9.28%), NSLTECH (+8.93%) and twelve others.
At the end of the trading session, twenty-eight stocks depreciated, stockbrokers said in a note. BUA CEMENT was the top loser, with a price depreciation of -10.00%. Other decliners include LASACO (-9.79%), REGALINS (-8.93%), JAPAULGOLD (-6.56%), HONYFLOUR (-6.11%), and NEIMETH (-1.57%).
Today, the market breadth closed negative, recording 18 gainers and 28 losers. Additionally, the market sector performance was negative, as all five major market sectors were down. The industrial sector declined by -3.52%, followed by the banking sector, which dropped by -1.47%, while the insurance sector fell by -1.13%.
The Oil & Gas sector also lost -0.29% while the Consumer goods sector slowdown by -0.28%.
