Equites Investors Lose N127bn as ARADEL, GTCO, OANDO Fall

Equites market slumped by more than N127 billion as investors exited positions in Aradel Holdings, GTCO and Oando Energy Plc shares.

The market ended in the red again. Sell side activities heated up again on oil and banking stocks which dragged key performance indicators lower by 0.21%.

According to data from the Nigerian Exchange, the market index or All-Share Index shed 210.15 basis points in today’s trading session to close at 98,081.38 points.

Stockbrokers said in their separate reports that there were sell-offs in some medium and large-scale stocks, such as ARADEL, OANDO, GTCO, and others.

Trading data showed that activities in the equities market dipped as the total volume and total value traded reduced by 7.08% and 28.74% respectively.

In its market update, Atlass Portfolios Limited told investors that approximately 239.31 million units valued at ₦6,408.75 million were transacted across 7,318 deals.

STERLINGNG was the most traded stock in terms of volume, accounting for 17.92% of the total volume of traded in the equities market.

Other volume drivers include ZENITHBANK (8.40%), GTCO (8.22%), ACCESSCORP (6.83%), and UBA (4.65%). ARADEL emerged as the most traded stock in value terms, accounting for 16.26% of the total value of trades on the exchange.

GOLDBREW topped the advancers’ chart with a price appreciation of 10.00 percent, trailed by DEAPCAP which gained +9.85%. Other gainers include TRANSPOWER (+9.68%), JAIZBANK (+8.64%), TRANSCOHOT (+7.78%), CONHALLPLC (+6.38%) and twenty-two others.

Sixteen stocks depreciated, according to data from the local bourse. ARADEL was the top loser, with a price depreciation of -10.00%. Other decliners include REGALINS (-8.82%), OANDO (-5.82%), GTCO (-3.85%), UCAP (-2.39%), and JAPAULGOLD (-1.27%).

Today, the market breadth closed positive, recording 28 gainers and 16 losers.

On sectoral performance, the Banking (-0.57%) index was the sole loser, driven by profit-taking actions in GTCO (-3.85%).

The Insurance (+1.13%), Oil & Gas (+0.92%), Industrial Goods (+0.08%) and Consumer Goods (+0.01%) all closed in the green from share appreciations in MANSARD (+4.55%), CONOIL (+5.33%), WAPCO (+1.39%), and HONYFLOUR (+1.83%), respectively. #Equites Investors Lose N127bn as ARADEL, GTCO, OANDO Fall

Two Ways to Make Money, Create Wealth