Nigerian Stocks Tank 1.12% After Sell-Down in Dangcem, 17 Others

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The Nigerian stocks halted the two-days positive drive as the market indicators (NGX-ASI and Market Cap.) dipped by 1.12 percent. The significant decline follows the sell-down in DANGCEM and 17 other small and medium capitalized stocks.

Resultantly, the market index (All-Share Index) plunged 520.76 basis points, representing a decrease of 1.12 percent to close at 46,009.23.

While the Market Capitalization lost ₦280.62Bn, representing a decline of 1.12 percent to close at ₦24.79 trillion.

→ Similarly, the market activities were bearish as the Total Volume and Value traded plummeted by 15.06 percent and 42.64 percent, respectively.

Approximately 279.44 million units valued at ₦2.76 billion were transacted in 4,582 Deals.

UPDCREIT led the most traded stock in terms of volume, accounting for 16.59 percent of the total volume of trades, followed closely by COURTVILLE (12.91%), TRANSCORP (6.04%), GTCO (5.74%) and MULTIVERSE (3.84%) to complete the top five on the volume chart.

While GTCO emerged as the most traded stock in value terms, with 14.83 percent of the total value of trades on the exchange.

→ GUINNESS and INTBREW led the advancers’ chart with maximum price appreciation of 10.00 percent each, trailed by ETI (9.63%), UNILEVER (7.28%), JBERGER (3.21%), BUACEMENT (2.87%), NB (2.43%), STANBIC (1.85%), UBA (0.61%), ZENITHBANK (0.39%), SEPLAT (0.13%) and fifteen (15) others.

Conversely, eighteen (18) stocks depreciated in price, led by NEM with price depreciation of 8.57 percent to close at ₦3.20 as DANGCEM (-8.53%), ARDOVA (-4.96%), STERLNBANK (-3.64%), OANDO (-2.13%), UCAP (-1.36%), FBNH (-1.30%), UACN (-1.11%), MANSARD (-0.43%) and FLOURMILL (-0.17%) also dipped in price.

Meanwhile, the market breadth closed positive, recording 26 gainers and 18 losers.

→ On the other hand, the market sector performance was broadly negative, led by Industrial Goods (-3.25%), Insurance (-1.79%) and Oil & Gas (-0.48%).

While the Consumer Goods and Banking sector rose by 1.77% and 1.08%, respectively, as against the previous session.