It was a negative start to trading this week on the floor of the Nigerian Exchange Limited on Monday, 6th Sept. 2021. The benchmark All-Share Index (ASI) dropped 8.12% on Monday, erasing the gains recorded on Friday.
The NGX All-Share Index depreciated by 0.02% to close the day at 39,252.89 points. The Market capitalization depreciated by the same magnitude, with Investor’s wealth losing N4.23bn, as it settled at N20.45tn.
In Monday’s trading session, penny stocks like LINKASSURE, MBENEFIT, and FTNCOCOA staged a comeback from loses recorded on Friday.
Read also; Nigeria records a trade deficit of N1.87 trillion in Q2 2021
High flying consumer goods stocks, HONYFLOUR also snapped out of its losing streak to close at N3.75, appreciating by 3.31%.
Activity Level
The activity level was mixed, as the volume of shares traded increased while the value of the traded shares decreased.
210.95 million units of shares was traded on Monday, 17.00% increase on the 180.30 million units traded on Friday.
The value of shares traded decreased by 19.74%, from the N1.72bn worth of shares traded on Friday to N1.38bn traded on Monday.
Shares of ACCESS was the most traded by volume, with 30.52 million units of shares exchanging hands in 353 deals.
Shares of MBENEFIT and SOVRENINS were the second and third most traded by volume. 26.82 million units of MBENEFIT shares were traded, while 21.37 million units of SOVRENINS were traded.
ACCESS shares was also the most traded by value, with shares worth N282.14 million exchanging hands on the day.
ZENITHBANK and STANBIC shares were the second and third most traded shares by value, with shares worth N180.21mn and N151.81mn respectively.
Performance of Indices under our watch
The performance of the five indices under our watch are as below;
- Banking Index: 0.48%
- Oil & Gas Index: 0.32%
- Insurance Index: 0.04%
- Industrial Goods Index: 0.03%
- Consumer Goods Index: -0.41%
Investor Sentiment
Investors sentiment as measured by market breadth (advance/decline ratio) strengthened to 1.4x against 0.8x recorded on Friday, as 21 stocks gained while 15 stocks lost.
Top Gainers:
- LINKASSURE gained 8.93% to close at N0.61
- FTNCOCOA gained 8.89% to close at N0.49
- MBENEFIT gained 7.14% to close at N0.30
- ETI gained 5.77% to close at N5.50
- UNIVINSURE gained 5.00% to close at N0.21
Top Losers:
- GLAXOSMITH lost 9.56% to close at N6.15
- CHIPLC lost 8.62% to close at N0.53
- SOVRENINS lost 7.69% to close at N0.24
- MAYBAKER lost 6.67% to close at N4.48
- UPL lost 6.03% to close at N1.09
Nnamdi Maduakor is a Writer, Investor and Entrepreneur