The equity market fell by more than N127 billion as investors sold holdings in Aradel Holdings, GTCO, and Oando Energy Plc shares. The market closed in the red again. Sell side activity increased again on energy and financial equities, dragging key performance indicators down by 0.21%.
According to Nigerian Exchange statistics, the market index, or All-Share Index, fell 210.15 basis points in today’s trading session to settle at 98,081.38 points. Stockbrokers reported sell-offs in certain medium and large-cap equities, including ARADEL, OANDO, GTCO, and others.
Trading data showed that activities in the equities market dipped as the total volume and total value traded reduced by 7.08% and 28.74% respectively.
Atlass Portfolios Limited reported a market update of about 239.31 million units valued at ₦6,408.75 million, traded in 7,318 trades. STERLINGNG was the most traded stock by volume, accounting for 17.92% of the total amount traded in the stocks market.
Other volume drivers are ZENITHBANK (8.40%), GTCO (8.22%), ACCESSCORP (6.83%), and UBA (4.65%). ARADEL became the most traded stock in value terms, accounting for 16.26% of the total value of trades on the exchange.
GOLDBREW headed the advancers’ chart with a price increase of 10.00%, followed by DEAPCAP, which gained +9.85%. Other gainers are TRANSPOWER (+9.68%), JAIZBANK (+8.64%), TRANSCOHOT (+7.78%), CONHALLPLC (+6.38%), and twenty-two others.
Sixteen stocks depreciated, according to data from the local bourse. ARADEL was the top loser, with a price depreciation of -10.00%. Other decliners include REGALINS (-8.82%), OANDO (-5.82%), GTCO (-3.85%), UCAP (-2.39%), and JAPAULGOLD (-1.27%).
Today, the market breadth closed positive, recording 28 gainers and 16 losers.
On sectoral performance, the Banking (-0.57%) index was the sole loser, driven by profit-taking actions in GTCO (-3.85%).
Insurance (+1.13%), Oil & Gas (+0.92%), Industrial Goods (+0.08%), and Consumer Goods (+0.01%) all closed in the green from share appreciations in MANSARD (+4.55%), CONOIL (+5.33%), WAPCO (+1.39%), and HONYFLOUR (+1.83%), respectively.
