Equity investors lost around N188 billion as a result of selloffs that affected Access Holdings Plc, Oando, and other major listed businesses on the Nigerian Exchange. According to stockbrokers, the market began trading for the fourth quarter of the year on a negative note, with key performance indicators up 0.33%.
At the end of the trading day, the market index or All-Share Index fell by 326.40 basis points, or 0.33%, to close at 98,232.39. Profit-taking practices by OANDO, UBA, ACCESSCORP, and others brought the NGX down.
However, market activities were mixed as the total volume traded dropped by 39.93% while the total value traded was up by 6.94%. In its market update, Atlass Portfolios Limited said approximately 425.76 million units valued at₦8,450.87 million were transacted across 8,451 deals.
UBA was the most traded stock in terms of volume, accounting for 25.38% of the total volume traded in the local bourse. Other volume drivers include ZENITHBANK (8.26%), VERITASKAP (7.19%), ELLAHLAKES (5.08%), and REGALINS (4.48%) to complete the top 5 on the volume chart.
UBA also emerged as the most traded stock in value terms, with 35.66% of the total value of trades on the exchange.
INTBREW topped the advancers’ chart with a price appreciation of 9.98 percent. Other decliners include MEYER (+9.94%), VERITASKAP (+9.93%), TRIPPLEG (+9.91%), DEAPCAP (+9.84%), MECURE (+9.80%) and nineteen others.
Thirty-two stocks depreciated, according to data from the Nigerian Exchange. ELLAHLAKES was the top loser, with a price depreciation of -9.93%. Other decliners include CAVERTON (-9.92%), LIVESTOCK (-9.03%), CONHALLPLC (-7.24%), OANDO (-6.78%), and ACCESSCORP (-4.13%).
Based on the trading direction, the market breadth closed negative, recording 25 gainers and 32 losers. Nonetheless, the market sector performance was positive, as three of the five major market sectors inched higher.
Bearish sentiment was prevalent in the Banking (-2.01%) and Oil & Gas (-0.13%) indexes as a result of profit-taking actions in UBA (-4.59%) and OANDO (-6.78%).
However, the Consumer Goods (+1.07%), Insurance (+0.97%) and Industrial Goods (+0.02%) indexes closed positive following upticks in INTBREW (+9.98%), VERITASKAP (+9.93%) and CUTIX (+8.30%), respectively. Overall, the equities market cap lost₦187.56 billion to close at₦56.45 trillion.
