The Nigerian Exchange Limited (NGX) recorded a negative start to trading for the week on Monday. The benchmark All-Share Index lost 0.12% to close at 44,399.66 points.
Investors’ took a N29.63 billion wealth cut, as the market capitalization also shed 0.12% to close at N23.921 trillion.
The Share price of Bua Foods Plc (NGX: BUAFOODS) recorded its first loss on Monday. It shed N4.20 (6.36%), dropping from N66.00 to N61.80.
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BUAFOODS listed on The Nigerian Exchange by Introduction on Wednesday, 5th January 2022 at N40.00. At the end of trading on 11th January, it overtook Nestle Nigeria Plc to become the fifth most capitalized stock on The Exchange.
Investogist reported that BUAFOODS will engage market stakeholders on Tuesday 18 January 2022, to commemorate its listing.
Activity Level
The activity level waned significantly, as both volume and value of traded shares decreased.
214.31 million units of shares valued at N2.68 billion was traded in 4,410 deals. While the volume of shares traded decreased by 47.18%, the value of traded shares decreased by 72.64%.
TRANSCORP, FBNH and GTCO Shares were the most traded by volume with 39.34mn, 25.49mn, and 24.81 shares respectively.
Shares of GTCO, ZENITHBANK and FBNH were the top three most traded shares by value. Shares worth N625.08mn, N532.96mn, and 305.97mn of GTCO, ZENITHBANK and FBNH respectively were exchanged.
Performance of Indices under our watch
The performance of the five indices under our watch are as below;
- Banking Index: -0.08% (411.98 Points)
- Industrial Goods Index: 0.81% (2103.92 Points)
- Consumer Goods Index: 0.20% (559.85 Points)
- Oil & Gas Index: 0.21% (361.18 Points)
- Insurance Index: -0.19% (192.87 Points)
The Year-to-Date performance of the All-Share Index moderated to +4.18% following Monday’s loses.
Investor Sentiment
Investors sentiment as measured by market breadth (advance/decline ratio) weakened further to 0.7x ,lower than the 0.8x recorded on Friday, as 16 stocks gained while 22 stocks also lost.
Top Gainers:
- TIP gained 10.00% to close at N0.44
- SUNUASSUR gained 9.68% to close at N0.34
- ETERNA gained 6.95% to close at N6.00
- WAPIC gained 6.25% to close at N0.51
- CHIPLC gained 4.48% to close at N0.70
Top Losers:
- VERITASKAP lost 8.70% to close at N0.21
- MBENEFIT lost 7.41% to close at N0.25
- CORNERSTONE lost 7.27% to close at N0.51
- BUAFOODS lost 6.36% to close at N61.80
- COURTVILLE lost 5.41% to close at N0.35
Nnamdi Maduakor is a Writer, Investor and Entrepreneur
