Nigerian stock market daily report: Local bourse suffers another day loss

The Equities market on the Nigerian Exchange suffered another day of loss, this is despite more gainers than losers on Wednesday.

Loses across the banking sector led by FBN Holdings Plc (NGX: FBNH); the 8th most capitalized company on the Exchange contributed significantly to the day’s market performance.

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The benchmark All-Share Index (NGX ASI) lost by 0.28% to close trading at 104,256.81 points, while equities market capitalization declined by the same 0.28% to settle at ₦58.94 trillion, with Investors’ losing ₦163 billion, meanwhile year to date gains moderated to 39.43%, with investor’s gains standing at ₦18.03 trillion

Nem Insurance Plc (NGX: NEM) emerged as the top gainer, advancing by 10.00%, while Secure Electronic Technology Plc (NGX: NSLTECH) was the biggest loser, with it’s share price shading 10.00%.

Activity Level

The activity level waned on Wednesday as the volume of shares traded and value of the traded shares declined even as the number of deals done also declined.

While the volume of shares traded decreased by 2.74%,  the value of shares traded decreased by 9.92%. Furthermore, the no of deals done also decreased by 13.62%.

At the end of trading, 298.65 million shares valued at ₦6.84 billion had exchanged hands in 8,248 deals.

Shares of FBN Holdings Plc (NGX: FBNH), United Bank for Africa Plc (NGX: UBA) and Transnational Corporation Plc (NGX: TRANSCORP) were the most traded stocks by volume with 38.76 million, 29.08 million and 26.08 million shares respectively.

Shares of FBN Holdings Plc (NGX: FBNH), Transcorp Power Plc (NGX: TRANSPOWER) and United Bank for Africa Plc (NGX: UBA) were the most traded by value, with their shares worth ₦1.56 billion, ₦1.43 billion and ₦0.76 billion respectively exchanging hands.

Top gainers and losers

At the end of the day’s trading session, 29 stocks advanced while 24 stocks declined.

The top five gainers were;

1. Nem Insurance Plc (NGX: NEM): It gained 10.00% to close at ₦8.80.
2. CWG Plc (NGX: CWG): It gained 10.00% to close at ₦6.05.
3. Juli Plc (NGX: JULI): It gained 9.98% to close at ₦6.50.
4. International Energy Resources Plc (NGX: INTENEGINS): It gained 9.85% to close at ₦1.45.
5. Thomas Wyatt Nig. Plc (NGX: THOMASWY): It gained 9.55% to close at ₦2.18.

The top five losers were;

1. Secure Electronic Technology Plc (NGX: NSLTECH): It lost 10.00% to close at ₦0.54.
2. The Initiates Plc (NGX: TIP): It lost 2.16% to close at ₦2.16.
3. FBN Holdings Plc (NGX: FBNH): It lost 9.90% to close at ₦39.60.
4. Vitafoam Nig. Plc (NGX: VITAFOAM): It lost 9.88% to close at ₦3.48.
5. Berger Paints Plc (NGX: BERGER): It lost 9.80% to close at  ₦15.65.

Only two of the five indices under our watch declined on Wednesday. The Banking index together with the Industrial index declined, while the Consumer Goods Index, Oil & Gas index and Insurance index all advanced.

1. Banking Index: The index lost by 1.79% to close at 986.80 points (YTD: +9.99%).
2. Industrial Index: The industrial lost marginally to close at 4,810.00 points (YTD: +77.34%).
3. Consumer Goods Index: The index gained 0.14% to close at 1,631.56 points (YTD: +45.51%).
4. Oil & Gas Index: It gained 0.24% to close  at 1,294.24 points (YTD: +24.08%).
5. Insurance Index: The index gained 2.09% to close at 381.83 points (YTD: +18.71%).

Nnamdi Maduakor

Nnamdi Maduakor is a Writer, Investor and Entrepreneur