The Nigerian Stock Exchange (NGX) fell Wednesday after Airtel Africa shares fell. Shares of the telecoms giant fell as investors sold shares after recording gains the previous day.
Airtel Africa’s market valuation fell by more than N7.5 billion, with the local stock exchange slipping into the red at the close of trading, according to market data. The market performance indicator fell slightly to -0.02% and the year-to-date return fell to 9.32%, according to brokerage reports.
As expected from the weaker performance, the market index, or all-stocks index, fell 13.29 basis points, down a modest -0.02% to close at 56,025.56. However, Atlass Portfolios Limited informed investors that market activity has increased today with total trading volume and trading value up +23.30% and +12.24% respectively.
About 397.62 million units (worth £6.53719 billion) were settled in 5,613 transactions, according to equity market analysts.
NPFMCRFBK was the most traded stock on a volume basis, accounting for 25.36% of total volume, followed by GTCO (10.83%), JAPAULGOLD (7.01%), FIDELITYBK (6.12%) and ACCESSCORP (5.79%). Top 5 in volume table.
AirTerrafri was the most traded stock by value, accounting for 41.47% of the total trading volume on the stock exchange. HONYFLOUR topped the list of today’s gainers with gains of 9.87% each. Food manufacturers were followed by ETERNA (9.87%), FTNCOCOA (+9.86%), CORNERST (+9.78%), WAPIC (+9.52%) and 26 others. 12 stocks fell, with UBN being the biggest loser, down -8.86% to close at ₦7.20.
Flour Mills fell 4.20%, NGX Group fell 3.11%, Prestige fell 2.44% and Courtville fell 2.08%. The market width finished positive with 31 winners and 12 losers.
Three of the five major market sectors fell, according to the local stock exchange, and the performance of the market sector ended lower. The banking sector (-0.25%), industrials (-0.02%) and consumer goods (-0.01%) followed, while the insurance and oil & gas sectors were +3.61% and +0 respectively. Up
The market capitalization lost £7.24 billion on the sale, down slightly -0.02% from £30.513 trillion the day before, to close at £30.506 trillion.
