NGX Investors Lose N35bn As Equities Market Drop Again

Stock Exchange Closes Trading Week With N30bn Gain

Investors in Nigerian Exchange stocks are having a difficult April as a result of a long-lasting, persistent risk-off attitude. Investors in stocks on the Nigerian Exchange (NGX) floor suffered losses of about N35 billion on Thursday due to another decline in the market. 

A negative run on the local stock exchange caused the equity market index to drop by 6 basis points, closing at 98,845.91 points. Due to fresh buying activity in the banking index on Wednesday, the local stock exchange reversed eight days of selloffs.

Even though there was less trading activity than the day before, the market decline was partly caused by sell-offs in several large- and medium-cap stocks, including UCAP, GTCO, and ACCESSCORP. 

Moving in the same direction, market activities dropped, according to information obtained from the Nigerian Exchange. Total volume and total value traded for the day decreased by -11.39% and -4.77% respectively.

Atlass Portfolios Limited told Investors via email that approximately 285.91 million units valued at ₦5,542.63 million were transacted in 7,726 deals.

ACCESSCORP was the most traded stock in terms of volume, accounting for 15.41% of the total volume of trades. The financial service holding company followed by GTCO (11.49%), UBA (9.97%), TRANSCORP (8.26%), and ZENITHBANK (7.71%) to complete the top 5 on the volume chart,.

Given its size advantage, GTCO was the most traded stock in value terms, with 20.61% of the total value of trades on the exchange.

GUINNESS topped the advancers’ chart with a price appreciation of 10.00 percent, trailed by NEIMETH which gained +9.76%. On the gainer chart are: MORISON (+9.73%), INTENEGINS (+9.30%), REGALINS (+8.33%), CORNERST (+3.76%), and nine others.

 Nineteen stocks depreciated, according to stockbrokers. UCAP was the top loser, with a price depreciation of -9.73%. Also on the loser chart are: CONHALLPLC (-9.70%), CHAMS (-9.14%), SUNUASSUR (-8.26%), LIVESTOCK (-7.64%), and OANDO (-6.72%).

At the end of the trading session, the equities market breadth closed negative, recording 15 gainers and 19 losers. Nevertheless, the market sector performance closed positive, as two of the five major market sectors inched higher, stockbrokers said in their separate report.

The Consumer goods sector rose by 0.14% and the Insurance sector by gained 0.03%. On the other hand, the Banking dropped by -0.63% while the Oil & Gas and Industrial sectors closed flat. Overall, the equities market capitalisation of the Nigerian Exchange declined by ₦35.49 billion, representing a decline of -0.06%, to close at ₦56.47 trillion.

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