The Nigerian Exchange (NGX) saw its equities market capitalization decline by N108 billion as investors offloaded shares of Oando Energy and Access Holdings. This dip caused the market to close in the red, with key performance indicators dropping by 0.18%. The All-Share Index fell by 177.38 points, ending the day at 98,050.12.
Although the market recorded a positive breadth, profit-taking activities in mid- and large-cap stocks like Oando, Presco, and Access Holdings disrupted its recent bullish momentum.
Improved Market Activities Amid Losses
Despite the overall decline, market activities showed improvement. Total trading volume and value increased by 26.22% and 13.51%, respectively. According to Atlass Portfolios Limited, about 467.68 million shares worth N9.59 billion were traded in 10,659 deals.
Top-Traded Stocks
FBN Holdings (FBNH) led in trading volume, contributing 10.95% of the total transactions. Other major volume drivers included:
- Tantalizer: 10.45%
- WAPCO: 8.50%
- Fidelity Bank: 5.70%
- Zenith Bank: 4.78%
In terms of value, WAPCO dominated, accounting for 24.15% of the total trading value.
Gainers and Losers
Austine Laz led the gainers’ chart with a 10% price increase, followed by Eunisel (+9.98%), HMCALL (+9.95%), Honeywell Flour (+9.93%), and Sunu Assurances (+9.93%). A total of 35 stocks advanced. On the losing end, WAPIC was the top decliner, shedding 9.82% in value. Other notable losers included:
- Univinsure: -8.82%
- Japaul Gold: -8.26%
- Oando: -5.59%
- Access Holdings: -3.36%
Overall, 23 stocks recorded losses.
Sector Performance
Three of the five major market sectors ended the day positive:
- Consumer Goods: +0.39%
- Insurance: +0.26%
- Industrial: +0.21%
However, the banking and oil & gas sectors declined by -1.16% and -0.33%, respectively, driven by selling pressure.
Closing Figures
The equities market capitalization dropped by N107.50 billion, closing at N59.43 trillion. Despite the losses, a positive market breadth of 35 gainers to 23 losers indicates some resilience in the market.
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