The Nigerian Exchange’s (NGX) stock market capitalisation fell by more than N671 billion due to selloffs in Dangote Cement, FBN Holdings, and others.
The continued selloffs on the local market brought key performance indicators down by 1.19%, forcing year-to-date returns to fall even further. As a result, the market index, or All-Share Index, fell by 1,167.97 basis points in today’s trading session, closing at 97,064.42 points.
Stockbrokers noticed profit-taking behavior in some mid and large-cap stocks. DANGCEM, DANGSUGAR, FBNH, and other companies have all declined. Today’s market activity decreased slightly, with total volume and total value traded falling by 36.96% and 20.02%, respectively.
In its market update, Atlass Portfolios Limited said approximately 268.39 million units valued at ₦6,758.88 million were transacted across 8,565 deals. UBA was the most traded stock in terms of volume, accounting for 13.85% of the total volume of traded on the Exchange.
Other volume drivers include ZENITHBANK (7.10%), DEAPCAP (5.19%), STERLINGNG (4.88%), and CAVERTON (4.52%) to complete the top 5 on the volume chart. SEPLAT emerged as the most traded stock in value terms, with 34.65% of the total value of trades on the exchange.
Also, SEPLAT topped the advancers’ chart today with a price appreciation of 10.00 percent. Other gainers include LIVESTOCK (+9.93%), REGALINS (+9.76%), CAVERTON (+9.63%), MANSARD (+7.82%), ABCTRANS (+7.69%) and nineteen others.
Twenty-seven stocks depreciated, according to data from the Nigerian Exchange. DANGCEM and MICNICHOLS were the top losers, with a price depreciation of -10.00% each.
Other decliners include DANGSUGAR (-4.41%), FBNH (-4.26%), HONYFLOUR (-4.21%), WAPCO (-1.76%), and TRANSCORP (-1.34%).
At the end of trading session, Stockbrokers said the market breadth closed negative, recording 27 gainers and 23 losers. However, the market sector performance was positive, as three of the five major market sectors were up.
The Oil & Gas sector grew by +3.80% followed by the Insurance sector which advanced by +2.00% while the Banking sector inched higher by +0.03%. On the other hand, the Industrial and Consumer goods sectors declined by 5.96% and 0.20% respectively.
Overall, the equities market capitalisation of the Nigerian Exchange declined or lost₦671.16 billion to close at₦55.78 trillion.
