The Nigerian Exchange‘s equities market recorded its third day of straight losses on Wednesday. The benchmark All-Share Index dropped by 1.81% from 43,248.05 points to 42,463.16 points.
The market capitalization depreciated by the same percentage, shedding N409.55bn from its value to close the day at N22.15 trillion.
With Wednesday’s losses, the week to date (WTD) performance worsened to -1.95%, with Investor’s raking up losses of N440.99 billion.
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High flying AIICO Insurance totally lost its momentum by the end of trading. The stock price had raced to N0.91 in the opening minutes of trading, but closed at N0.82, 1.20% lower than its opening price.
Activity Level
The activity level was mixed, as the volume of shares traded increased while the value of shares traded and the no of deals done decreased.
335.48 million shares worth N3.55 billion was traded in 3,891 deals. This represents a 49.16% increase in volume, 4.20% decrease in value and 10.16% decline in value of shares traded when compared to Tuesday’s figures.
FBNH, UNIVINSURE and ZENITHBANK Shares were the most traded by volume, with 133.99mn, 36.19mn, and 18.393mn shares respectively.
Shares of FBNH, ZENITHBANK and GTCO were the top three most traded shares by value. Shares worth N1.57bn, N440.11mn and N334.80mn of FBNH, ZENITHBANK and GTCO respectively were exchanged.
Performance of Indices under our watch
The performance of the five indices under our watch are as below;
- Consumer Goods Index: -0.14% (546.42 Points)
- Industrial Goods Index: +0.04% (2193.85 Points)
- Oil & Gas Index: -0.12%(360.92 Points)
- Banking Index: -1.15% (386.30 Points)
- Insurance Index: +0.77% (18906 Points)
Investor Sentiment
Investors sentiment as measured by market breadth (advance/decline ratio) remained weak at 0.7x higher than the 0.5x recorded on Wednesday, as 15 stocks gained while 23 stocks also lost.
Top Gainers:
- CORNERSTONE gained 7.69% to close at N0.56
- MANSARD gained 7.55% to close at N2.28
- CHAMS gained 5.00% to close at N0.21
- NGX gained 3.66% to close at N17.00
- FTNCOCOA gained 2.56% to close at N0.40
Top Losers:
- MTNN lost 10.00% to close at N171.00
- AFRIPRUD lost 7.63% to close at N6.00
- UPDC lost 7.48% to close at N0.99
- ROYALEX lost 5.56% to close at N0.51
- HONYFLOUR lost 5.32% to close at N3.74
Nnamdi Maduakor is a Writer, Investor and Entrepreneur
