Investors Lost N35bn as Equities Market Relapsed
April isn’t going too well for the Nigerian Exchange equities investors following a sustained risk off sentiment that has persisted for long. On Thursday, equities investors on the floor of the Nigerian Exchange (NGX) lost more than N35 billion as market relapsed again.
The local bourse saw a bearish run that plunged the equities market index by 6 basis points to close at 98,845.91 points. Buying interest had reversed eight days selloffs in the local bourse on Wednesday due to renewed pick on banking index.
Although market activities were minimal in compared to the previous day, sell-off in some medium and large-scale stocks such as UCAP, GTCO, ACCESSCORP contributed to market downturn.
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.
