Equities Investors Lose N225bn on NGX as Oct Trades End in Red

Equities investors lost more than N225 billion on Thursday as October trading activities on the Nigerian Exchange (NGX) ended in red.  Data from the local bourse showed that key performance indicator dropped by 0.38% while year to date return moderated further.

It has been a dirty week for the equities market as the All-Share Index reduced further by 372 basis points in today’s trading session to close at 97,651.23.  The equities market closed negative in four consecutive trading sessions due to sell-offs in blue-chip stocks- ARADEL, along with 25 other counters.

In its market update, Atlass Portfolios Limited stated that the prolonged sell-off has resulted in a cumulative decline of ₦1.09 trillion in investors’ wealth over the past four days.

Equities market activities were down on Thursday as the total volume and total value traded decreased by 0.40% and 34.57% respectively.  Stockbrokers told investors that approximately 536.79 million units valued at ₦10,010.99 million were transacted across 9,053 deals.

UBA was the most traded stock in terms of volume, accounting for 13.95% of the total volume of traded on the Nigerian Exchange platform.  Other volume drivers include UACN (10.35%), CHAMS (10.01%), JAIZBANK (8.65%), and VERITASKAP (7.56%).

UBA also emerged as the most traded stock in value terms, accounting for 24.89% of the total value of trades on the exchange.

SUNUASSUR topped the advancers’ chart with a price appreciation of 10.00 percent, trailed by EUNISELL which gained +9.89%. Other gainers include UPL (+9.74%), CORNERST (+9.60%), PRESTIGE (+9.26%), CONOIL (+9.14%) and eighteen others.

Market data showed that twenty-six stocks depreciated. VERITASKAP and ARADEL were the top losers, with a price depreciation of -10.00% each. Other decliners include NSLTECH (-9.09%), BETAGLAS (-7.25%), CAVERTON (-4.59%), JAPAULGOLD (-3.38%), and DANGSUGAR (-2.22%).

Today, the market breadth closed negative, recording 24 gainers and 26 losers. Nonetheless, the market sector performance was positive, according to stockbrokers. Three out of the five major market sectors ended on a positive note. The Oil & Gas sector grew by 1.27%, followed by the Insurance sector which surge by 1.12% while the Banking sector rose by 0.28%.

On the other hand, the Industrial and Consumer goods sectors dropped by 0.09% and 0.06% respectively. Overall, the equities market capitalisation of the Nigerian Exchange plunged by ₦225.41 billion to close the month at ₦59.17 trillion. Ghana to Import Petroleum from Dangote Refinery – Official