Nigerian Exchange Drops by N133bn as Investors Open, Close Trades

Equities investors lost about N133 billion on the Nigerian Exchange (NGX) after trades were opened and closed. The market opened and ended session on a negative note as selling spree persisted all week trading records.

Most of the trades that were opened during five days rally witnessed last week were eventually close, resulting in decline in key performance indicators.  Data from the local bourse showed that the Nigerian Exchange All-Share index and market capitalisation plunged by 0.22%.

Stockbroking firms noted in their separate reports that the equities market posted a week-on-week loss of 2.03%, as bearish sentiment persisted across all the five-trading sessions.  The market index reduced by 219.21 basis points to close at 97,432.02 driven by sell-offs in some medium and large cap stocks. 

Leading the bearish run were ARADEL, and 29 others.  Despite the downturn, equites market activities inched higher as the total volume and total value traded increased by 65.58% and 58.24% respectively.

In a note, Atlass Portfolios Limited told investors that approximately 888.80 million units valued at ₦15,841.26 million were transacted across 8,803 deals.  FIDELITYBK was the most traded stock in terms of volume, accounting for 60.90% of the total volume of traded in the equities market.

Other volume drivers include JAIZBANK (7.74%), CHAMS (5.56%), ZENITHBANK (4.58%), and GTCO (2.53%).  FIDELITYBK also emerged as the most traded stock in value terms, with 48.53% of the total value of trades on the exchange.

JOHNHOLT topped the advancers’ chart with a price appreciation of 10.00 percent, trailed by EUNISELL which gained +9.98%.  Other gainers include REDSTAREX (+9.83%), WAPIC (+9.52%), PZ (+8.64%), LASACO (+4.94%) and seventeen others.

Trading record revealed that thirty stocks depreciated on the Nigerian Exchange and ARADEL was the top loser, with a price depreciation of -10.00%.  Other decliners include ELLAHLAKES (-9.92%), CUSTODIAN (-6.98%), STERLINGNG (-4.08%), UBA (-2.68%), and WAPCO (-0.26%).

At the end of trading session on Friday, the market breadth closed negative, recording 23 gainers and 30 losers. Sectoral performance was however positive, as three of the five major market sectors climbed. The banking sector grew by 1.15%, followed by the consumer goods sector, which gained 0.23%, while the insurance sector rose by 0.15%.

On the other side, the oil & gas and industrial sectors dropped by 0.07% and 0.01%, respectively. Overall, the equity market cap of the Nigerian Exchange lost ₦132.83 billion to settle at ₦59.04 trillion. #Nigerian Exchange Drops by N133bn as Investors Open, Close Trades Nigeria’s Eurobond Yield Slumps Below 10%