The Nigerian Exchange (NGX) market capitalisation declined by roughly ₦13 billion midweek as a result of profit-taking on equities of listed firms that had recently gained ground. The local bourse’s unfavorable price movements ended the market’s positive run, bringing key performance indicators down by 0.03%.
Stockbrokers indicated on Wednesday that the year-to-date return had decreased, albeit it was still more than the annual inflation rate of 25.8%, according to statistics office data.
According to stock market trade figures, the NGX year-to-date gain has reduced to 33.34% owing to profit-taking by equity investors.
Atlass Portfolios Limited informed investors in its market report that the market index, or NGX All-Share Index, fell by 23.50 basis points, reflecting a loss of -0.03% to close at 68,335.72.
Given the trading patterns, equities market activities were down; total volume and total value traded for the day dropped by -16.27% and -8.61% respectively, stockbrokers reported.
Atlass Portfolios Limited told investors that approximately 566.63 million units valued at ₦5,386.24 million were transacted in 8,201 deals.
OANDO was the most traded stock in terms of volume, accounting for 19.46% of the total volume of trades. The indigenous energy company was followed by COURTVILLE (11.68%), CHAMS (9.98%), JAPAULGOLD (6.48%), and ACCESSCORP (5.76%) to complete the top 5 on the volume chart.
Likewise, OANDO was also the most traded stock in value terms, with 29.72% of the total value of trades on the exchange.
SUNUASSUR topped the advancers’ chart for today with a price appreciation of 10.00 per cent, trailed by BERGER (9.91%), CHAMS (+9.77%), OANDO (+9.77%), MRS (+9.47%), and twenty-one others.
Twenty-nine stocks depreciated, where TRANSCOHOT was the top loser, with a price depreciation of -10.00%, as IKEJAHOTEL (9.93%), CHIPLC (-7.41%), LIVESTOCK (-4.98%), CUSTODIAN (-4.73%), and DANGSUGAR (-3.65%) also dipped in price.
According to stockbrokers, the market breadth closed negative, recording 26 gainers and 29 losers. In addition, the market sector performance closed par.
The Banking and Consumer goods sectors were down by -0.97% and -0.40% respectively, while the Oil & Gas and Industrial sectors grew by +0.63% and +0.02% respectively.
The Insurance sector closed unchanged. Overall, the equities market capitalisation lost ₦12.87 billion, representing a decline of -0.03%, to close at ₦37,400.62 trillion from ₦37,413.49 trillion on Wednesday.