Investors’ Wealth Falls by ₦12Billion as Sell-Off Persist

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Investors in the Nigeria equities market sustained the previous day’s negative sentiment as the market capitalization declined by ₦12 billion following the price depreciation in some medium and high capitalized stocks.

In that regard, the market index (All-Share Index) dipped by 22.89 basis points, representing a decline of 0.05 percent to close at 43,248.05.

While the Market Capitalization lost ₦11.94Bn, representing a decrease of 0.05 percent to close at ₦22.57 trillion.

→ However, the market activities were bullish as the Total Volume and Value traded rose by 5.53 percent and 57.16 percent, respectively.

A total of 224.91 million units valued at ₦3.71 billion were transacted in 4,331 Deals.

ACCESS topped the traded stocks in terms of volume, accounting for 18.81 percent of the total volume of trades, followed closely by ZENITHBANK (17.38%), FBNH (7.54%), GTCO (7.44%), and AIICO (5.73%) to complete the top five on the volume chart.

ZENITHBANK appeared as the most traded stock in value terms, with 25.23 percent of the total value of trades on the exchange.

→ AIICO appeared as the most profitable stock to sustained the previous day’s position, leading the gainers’ chart with a price appreciation of 9.21 percent, followed by ACCESS (4.40%), ETI (3.73%), FCMB (3.33%), AFRIPRUD (2.36%), TRANSCORP (1.04%), UBA (0.63%), FBNH (0.42%) and three (3) others.

On the contrary, 24 stocks remain depreciated in price topped by UPDCREIT with price depreciation of 9.89 percent to close at ₦4.10, as CHAMS (-9.09%), OANDO (-2.04%), UCAP (-1.53%), GTCO (-1.40%), HONYFLOUR (-1.25%), DANGSUGAR (-1.22%), ZENITHBANK (-1.03%), WAPCO (-0.60%) and FLOURMILL (-0.51%) also dipped in price.

In that regard, the market breadth closed largely negative, recording 11 gainers and 24 losers.

→ Consequently, the sector performance was relatively negative, as three of the five major sectors closed negatively, led by Oil & Gas (-0.40%), Consumer Goods (-0.21%) and Industrial Goods (-0.04%).

While the Insurance (1.64%) and Banking (0.26%) sectors grew compared to the previous session.