Investors lost around N105 billion when the Nigerian Exchange’s (NGX) equities market sector reversed gains during four trading sessions. The market was thriving, with investors buying into banking, consumer, and oil and gas indices while spot rates in the fixed income market fell.
Key performance indicators fell by 0.19% as investors began to profit from stocks that had gained. The market index, often known as the All-Share Index, fell 181.88 basis points to settle at 98,049.04 points, according to statistics from the Nigerian Exchange.
The local market’s positive streak came to an end due to profit-taking in all main market sectors, led by the banking sector, which lost 0.62%. However, market activities increased little as the total volume and total value traded increased by 30.94% and 50.26%, respectively.
Stock analysts at Atlass Portfolios Limited said in an update that approximately 473.09 million units valued at₦11,369.76 million were transacted across 9,848 deals.
JAPAULGOLD was the most traded stock in terms of volume, accounting for 23.36% of the total volume traded in the market. Other volume drivers include UACN (12.67%), FIDELITYBK (10.67%), HONYFLOUR (5.71%), and GTCO (3.23%).
UACN emerged as the most traded stock in value terms, accounting for 18.20% of the total value traded on the exchange. ABCTRANS and McDonald’s topped the advancers’ chart for today with a price appreciation of 10.00 percent each.
Other gainers include UPL with (+9.95%) growth, FIDSON (+9.85%), CAVERTON (+9.80%), FIDELITYBK (+9.73%), DEAPCAP (+9.52%), and eighteen others.
Twenty-six stocks depreciated due to selloffs. HONYFLOUR was the top loser, with a price depreciation of -9.98%. Other decliners include FBNH (-9.88%), TANTALIZER (-8.82%), FTNCOCOA (-5.78%), NEIMETH (-4.76%), and FLOURMILL (-1.75%).
Stock data showed that the market breadth closed slightly negative, recording 25 gainers and 26 losers. In addition, the market sector performance was negative, as all five major market sectors were down. The banking sector declined by -0.62%, followed by the insurance sector, which lost -0.57%, while the consumer goods sector dipped by -0.26%.
Also, the Oil & Gas sector fell by -0.13% and the Oil & Gas sector went down by -0.06%. Overall, the equities market capitalisation of the Nigerian Exchange declined by₦104.51 billion to₦56.34 trillion.
