Nigerian stock market daily report: Dangote Sugar and Transcorp suffer maximum losses as market begins week with loss

Dangote Sugar Refinery Plc (NGX: DANGSUGAR) and Transnational Corporation Plc (NGX: TRANSCORP) share prices suffered maximum losses on Monday as the equities market began the week with loss.

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The benchmark All-Share Index (NGX ASI) depreciated by 0.49% shedding 511.02 points to close the day’s trading at 104,136.35.

Equities market capitalization declined by the same 0.49% to settle at ₦58.87 trillion. Investors’ wealth dropped by ₦289 billion.

Meanwhile, year to date, the All-Share Index gains moderated to 39.27%, with investor’s gains standing at ₦17.96 trillion.

Ellah Lakes Plc (NGX: ELLAHLAKES) emerged as the top gainer, advancing by 10.00%, while International Energy Insurance Plc (NGX: INTENEGINS) was the biggest loser, with it’s share price shading 10.00%.

Activity Level

The activity level waned on Monday as the volume of shares traded, value of the traded and the number of deals done all decreased.

While the volume of shares traded decreased by 39.26%,  the value of shares traded decreased by 20.04%. Furthermore, the no of deals done also decreased by 2.41%.

At the end of trading, 306.82 million shares valued at ₦11.38 billion had exchanged hands in 9,343 deals.

Shares of Jaiz Bank Plc (NGX: JAIZBANK), United Bank for Africa Plc (NGX: UBA), and Nigerian Breweries Plc (NGX: NB) were the most traded stocks by volume with 23.15 million, 19.53 million and 17.43 million shares respectively.

Shares of MTN Nigeria Communications Plc (NGX: MTNN), United Bank for Africa Plc (NGX: UBA) and Guaranty Trust Holding Company Plc (NGX: GTCO) were the most traded by value, with their shares worth ₦2.61 billion, ₦638.93 million and ₦519.28 million respectively exchanging hands.

Top gainers and losers

At the end of the day’s trading session, 20 stocks advanced while 30 stocks declined.

The top five gainers were;

1. Ellah Lakes Plc (NGX: ELLAHLAKES): It gained 10.00% to close at ₦3.63.
2. Morison Industries Plc (NGX: MORISON): It gained 9.93% to close at ₦1.55.
3. Sunu Assurances Nigeria Plc (NGX: SUNUASSUR): It gained 9.48% to close at ₦1.27.
4. Caverton Offshore Support Grp Plc (NGX: CAVERTON): It gained 9.38% to close at ₦1.75.
5. Secure Electronic Technology Plc (NGX: NSLTECH): It gained 9.09% to close at ₦0.60.

The top five losers were;

1. International Energy Insurance Plc (NGX: INTENEGINS): It lost 10.00% to close at ₦1.35.
2. Dangote Sugar Refinery Plc (NGX: DANGSUGAR): It lost 10.00% to close at ₦53.10.
3. Jaiz Bank Plc (NGX: JAIZBANK): It lost 9.92% to close at ₦2.18.
4. Ikeja Hotel Plc (NGX: IKEJAHOTEL): It lost 9.72% to close at ₦5.85.
5. Deap Capital Management Plc (NGX: DEAPCAP): It lost 9.52% to close at ₦0.57.

Two of the five indices under our watch declined, two advanced, while one closed flat.

1. Banking Index: The index lost by 1.76% to close at 992.84 points (YTD: +10.66%).
2. Industrial Index: The industrial gained 0.04% to close at 4,832.80 points (YTD: +78.18%).
3. Consumer Goods Index: The index lost 0.83% to close at 1,613.01 points (YTD: +43.85%).
4. Oil & Gas Index: It closed flat at 1,294.24 points (YTD: +24.09%).
5. Insurance Index: The index gained 0.21% to close at 394.22 points (YTD: +22.56%).

Nnamdi Maduakor

Nnamdi Maduakor is a Writer, Investor and Entrepreneur