Equities investors lost over N111 billion in the Nigerian stock market on Monday as a result of selloffs. Profit-taking operations have resumed following a dismal performance on the Nigerian Exchange (NGX) platform last week.
According to local bourse data, year-to-date gains have moderated as key performance measures have fallen by 0.24%. Atlass Portfolios Limited reported a difference in market indicators due to the listing of Japaul Gold & Ventures 8 billion ordinary shares of 50 Kobo each at ₦2.50 per share through a private placement on the Exchange.
The market index, or All-Share Index, fell by 227.07 basis points to settle at 96,206.46. Despite the strong market breadth, the local bourse closed in the negative due to sell-offs in some medium and large-cap stocks, including JBERGER, TRANSPOWER, and others.
However, market activities were up, as the total volume and total value traded for the day increased by 97.79% and 21.82%, respectively. Stockbrokers said approximately 774.38 million units valued at ₦14,647.49 million were transacted across 10,412 deals.
JAIZBANK was the most traded stock in terms of volume, accounting for 31.94% of the total volume of traded, followed by ZENITHBANK (22.43%), FBNH (5.37%), GTCO (4.39%), and JAPAULGOLD (3.59%) to complete the top 5 on the volume chart.
ZENITHBANK emerged as the most traded stock in value terms, with 43.85% of the total value of trades on the exchange. ETERNA and TANTALIZER topped the advancers’ chart with a price appreciation of 10.00 each percent.
Other gainers include OANDO (+9.95%), FTNCOCOA (+9.93%), UACN (+9.81%), JAPAULGOLD (+9.76%), ETRANZACT (+9.76%), and twenty-seven others. On the other hand, twenty stocks depreciated. JBERGER was the top loser, with a price depreciation of -10.00%, as TRANSPOWER (-9.99%), CUTIX (-6.00%), OMATEK (-5.56%), TRANSCORP (-3.08%), and ACCESSCORP (-1.35%) also dipped in price.
NGX market breadth closed positive, recording 34 gainers and 20 losers. In addition, the market sector performance was positive, as three of the five major market sectors surged. The Insurance (+2.48%), Oil and Gas (+1.14%), and Banking (+0.15%) indices closed positive owing to buying interest in CORNERST (+9.32%), OANDO (+9.95%), and FBNH (+8.84%), respectively.
On the flip side, the consumer goods (-0.43%) and industrial goods (-0.04%) indices closed lower due to selloffs in DANGSUGAR (-1.26%) and JBERGER (-10.00%), respectively. Overall, the equity market capitalisation of the Nigerian Exchange dropped by₦110.96 billion to close at₦55.28 trillion.
