NGX Sheds Additional N6.6bn over Investors Selling Spree

The Nigerian Exchange (NGX) bled as investors continue to sell shares in newly listed companies and banking names in particular. Again, Aradel Holdings Plc top the losers chart in the domestic bourse as 22 stocks share prices declined.

Consequent to negative trading record, key performance indicators dipped marginally by 0.01% on Friday. The year to date return also moderated further amidst rising headline inflation.

Today, the market index or All-Share Index reduced by 11.15 basis points to close at 97,070.23 points, according to details from the Nigerian Exchange.

Stockbrokers said sell-offs in some medium and large cap stocks such as ARADEL, and 21 others, leading to a ₦282 billion drop in investors’ wealth over three days.

Nonetheless, market activities improved as the total volume and total value traded for today increased by 49.95% and 86.66% respectively.

In its market update, Atlass Portfolios Limited said approximately 358.85 million units valued at ₦11,962.29 million were transacted across 6,719 deals.

JAPAULGOLD was the most traded stock in terms of volume, accounting for 38.09% of the total volume of traded in the equities market.

Other volume drivers include UBA (10.77%), ZENITHBANK (7.79%), ACCESSCORP (7.65%), and FCMB (3.32%) – completing the top 5 on the volume chart.  SEPLAT emerged as the most traded stock in value terms, with 41.84% of the total value of trades on the exchange.

MCNICHOLS topped the advancers’ chart with a price appreciation of 10.00 percent, trailed by UPL which gained +9.41%. Other gainers include DAARCOMM (+9.09%), TRANSPOWER (+8.676%), CILEASING (+8.29%), INTBREW (+6.91%) and sixteen others.

In the market, twenty-two stocks depreciated on Friday. ARADEL was the top loser, with a price depreciation of -9.99%. Other decliners include DEAPCAP (-9.66%), JAIZBANK (-5.86%), ROYALEX (-4.23%), NB (-3.45%), and DANGSUGAR (-0.14%).

Today, the market breadth closed par, recording 22 gainers and 22 losers. The sectoral performance was positive, as three of the five major market sectors were up.

The Consumer goods sector grew by +0.63%, followed by the Banking sector which gained +0.51% while the Oil & Gas sector rose marginally by +0.02%. The Insurance sector was down by -0.91%, while the Industrial sector closed flat.

Overall, the equities market cap lost ₦6.61 billion, representing a slight decrease of 0.01%, settling at ₦56.43 trillion. #NGX Sheds Additional N6.6bn over Investors Selling Spree

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