Nigeria Equities Plunge Further Amidst Sell-off in 23 Stocks


Investors in the Nigeria equities market sustained the previous day’s negative sentiment as the market performance indicators (NGX-ASI and Market Capitalization) plunged further by 0.15% despite the 0.33 percent growth in AIRTELAFRI.

In that regard, the market index (All-Share Index) decreased by 63.93 basis points, representing a decline of 0.15 percent to close at 43,285.97.

While the Market Capitalization lost ₦33.36Bn, representing a decrease of 0.15 percent to close at ₦22.59 trillion.

→ Similarly, the market activities traded negatively, as the Total Volume and Value traded depreciated by 20.48 percent and 57.17 percent, respectively, as against the previous session.

A total of 210.55 million units valued at ₦2.61 billion were transacted in 3,423 Deals.

STERLNBANK topped the traded stocks in terms of volume, accounting for 28.60 percent of the total volume of trades, trailed by ETRANZACT (6.69%), TRANSCORP (6.24%), GTCO (5.20%), and JAIZBANK (4.96%) to complete the top five on the volume chart.

While AIRTELAFRI emerged as the most traded stock in value terms, with 25.71 percent of the total value of trades on the exchange.

→ On the profitability charts, ETRANZACT and VITAFOAM emerged as the most profitable stocks for the day, topping the advancers’ list with price appreciation of 10.00 percent each, trailed by ACADEMY (9.09%), JAINBANK (6.45%), PZ (4.31%), ETI (1.78%), CUSTODIAN (1.31%), AIRTELAFRI (0.33%) and four (4) others.

On the other hand, 23 stocks depreciated in price led by CHAMS with price depreciation of 8.70 percent to close at ₦0.21, as FBNH (-6.50%), UACN (-4.55%), AFRIPRUD (-3.08%), NGXGROUP (-2.23%), WAPCO (-1.96%), UCAP (-1.53%), UBA (-1.19%), OANDO (-1.02%), UBN (-1.00%), GTCO (-0.76% and HONYFLOUR (-0.29%) also dipped in price.

As a result, the market breadth closed largely negative, recording 12 gainers and 23 losers.

→ Correspondingly, the sector performance was negative, as three of the five major sectors closed bearishly, led by Banking and Industrial Goods sectors with 0.19 percent decline, respectively, as the Industrial Goods sectors dipped by 0.12 present.

Meanwhile, the Insurance and Consumer Goods sector rose by 0.59 percent and 0.14 percent, respectively, as against the previous session.

Naija247news Media Nigeria
Naija247news Media Nigeria
Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

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