Stock Investors Resume Week With Profit-Taking as NGX-ASI Dip 0.06%

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Investors in the Nigeria stock market resumed the new week with profit-taking as the NGX-ASI dipped marginally by 0.06 percent. The decline was driven by sell-off in market sectors, save for the Oil & Gas sector. As a result, the market index (All-Share Index) shed 29.08 basis points, representing a decrease of 0.06 percent to close at 45,928.27. While the Market Capitalization lost ₦36.01Bn, representing a dip of 0.05 percent to close at ₦24.75 trillion. The disparity between the ASI and Market Capitalization follows the listing of Nigerian Breweries Plc additional shares of 78,929,849 ordinary shares arose from Nigerian Breweries’ Scrip Dividend Election Scheme.

→ Meanwhile, the market activities were mixed as the Total Volume traded plummeted by 1.06% while the Total Value rose by 19.71 percent. 278.61 million units valued at ₦2.89 billion were transacted in 4,447 Deals. CHAMS led the most traded stock in terms of volume, accounting for 14.56 percent of the total volume of trades, followed closely by UBA (12.61%), COURTVILLE (11.97%), STERLNBANK (6.74%) and ACCESS (6.13%) to complete the top five on the volume chart. While, SEPLAT emerged as the most traded stock in value terms, with 27.62 percent of the total value of trades on the exchange.

→ NNFM remained the best gainer leading the advancers’ chart with price appreciation of 9.49 percent, trailed by SEPLAT (3.30%), MAYBAKER (2.27%), HONYFLOUR (1.56%), FIDELITYBK (1.13%), GLAXOSMITH (0.83%), GUINNESS (0.71%), FLOURMILL (0.18%) and six (6) others. Conversely, twenty-six (26) stocks depreciated in price, led by REGALINS with price depreciation of 9.52 percent to close at ₦0.38 as NEM (-5.41%), NEIMETH (-3.03%), UCAP (-2.24%), FBNH (-1.67%), UACN (-1.64%), NB (-1.46%), UBA (-1.22%), UNILEVER (-1.14%), ZENITHBANK (-0.78%), GTCO (-0.58%) and OANDO (-0.42%) also dipped in price. As a result, the market breadth closed negative, recording 14 gainers and 26 losers.

→ Conclusively, the market sector performance was broadly negative, except for Oil & Gas sector that grew by 1.67%, other sectors led by Insurance (-1.44%), Banking (-0.45%), Consumer Goods (-0.23%) and Industrial Goods (-0.01%) dipped accordingly.