Trading opened the week on the Nigerian Exchange with losses, a continuation of the trend from the previous week. The Exchange had seen its benchmark Index, the All-Share Index close in red for every trading session in the preceding week.
The All-Share Index dropped by 0.38% to close trading at 42,008.60 points on Monday. The market capitalization shed N82.96 billion to settle at N21.92 trillion.
Shares of Lafarge Africa Plc (NGX: WAPCO) led the losers pack, shedding N2.45 (9.94%) to close at N24.65. A total of 7.46mn units of shares of WAPCO worth N178.62mn was exchanged in 97 deals.
- Have you read?
- Axa Mansard forecasts N2.65bn profit in Q1 2022, EPS will be 58% down year on year
- Covid-19 Omicron: UK adds Nigeria to Red List
Year-to-date performance of the NGX ASI moderated to +4.32%, as total Investor’s gain dropped below a trillion Naira to N863.27 billion.
Activity Level
The activity level improved significantly, as volume of shares traded, the value of shares traded and the no of deals done all increased.
422.18 million shares worth N4.47 billion was traded in 5,059 deals. This represents a 133.31% increase in volume, 84.34% increase in value and 25.88% increase in value of shares traded when compared to Friday’s figures.
FBNH, STERLNBANK and GTCO Shares were the most traded by volume, with 128.86mn, 77.77mn, and 47.78mn shares respectively.
Shares of FBNH, GTCO and ZENITHBANK were the top three most traded shares by value. Shares worth N1.50bn, N1.14bn and N240.56mn of FBNH, GTCO and ZENITHBANK respectively were exchanged.
Performance of Indices under our watch
The performance of the five indices under our watch are as below;
- Banking Index: -1.37% (376.34 Points)
- Consumer Goods Index: -0.34% (544.54 Points)
- Industrial Goods Index: -0.58% (2179.34 Points)
- Insurance Index: -1.77% (185.18 Points)
- Oil & Gas Index: -0.11%(347.86 Points)
Investor Sentiment
Investors sentiment as measured by market breadth (advance/decline ratio) remained weak at 0.4x lower than the 0.7x recorded on Friday, as 10 stocks gained while 24 stocks also lost.
Top Gainers:
- ROYALEX gained 9.43% to close at N0.58
- CHIPLC gained 9.09% to close at N0.48
- MEYER gained 9.09% to close at N0.24
- UPDC gained 9.09% to close at N1.08
- CHAMPION gained 7.92% to close at N2.59
Top Losers:
- WAPCO lost 9.94% to close at N22.20
- LINKASSURE lost 8.93% to close at N0.51
- ABCTRANS lost 8.82% to close at N0.31
- VITAFOAM lost 8.68% to close at N20.00
- FIDELITY lost 5.60% to close at N2.36
Nnamdi Maduakor is a Writer, Investor and Entrepreneur
