Nigerian stock market daily report: Investors begin week with ₦1.82 trillion loss

Equity Investors on the Nigerian Exchange began the week with a  ₦1.82 trillion loss, as loses in the share prices of MTN Nigeria Communications Plc (NGX: MTNN) and Dangote Cement Plc (NGX: DANGCEM) dictated market performance.

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Both highly capitalized companies suffered maximum loses of 10% on Monday, occupying the first and second on the losers table.

The benchmark NGX All-Share Index (NGX ASI) depreciated by 3.15% on Monday, shedding 3,329.55 points to close at 102,393.23 points. Year-to-date, the index is up by 36.94%.

The market capitalization lost by the same percentage points, as it dropped to ₦56.02 trillion, wiping ₦1.82 trillion off Investors’ wealth.

While MTNN was the biggest loser on Monday, Juli Plc (NGX: JULI) was the biggest gainer, advancing by 9.52%.

The share price of Juli Plc has risen by 149.51% in the past one month, rising from ₦0.59 on 30 January, to ₦1.61 at the end on trading on Monday, 19th February.

Juli Plc released its fourth quarter financial report on 31st January, posting a loss of ₦6.73 billion for the 12 months period ended 31 December, 2023 (2022: minus ₦11.06 billion).

Activity Level

The activity level was waned on Monday as both the volume of shares traded and value of shares traded decreased.

The volume of shares and the value of shares traded decreased by 20.06% and 7.58% respectively, while the no of deals done increased by 15.40%.

At the end of trading, 273.85 million shares valued at ₦7.43 billion had exchanged hands in 9,688 deals.

Shares of Guaranty Trust Holding Company Plc (NGX: GTCO), Transnational Corporation Plc (NGX: TRANSCORP) and Access Holdings Plc (NGX: ACCESSCORP) were the most traded stocks by volume with 28.84 million, 20.13 million and 15.90 million shares respectively.

Shares of Geregu Power Plc (NGX: GEREGU), Guaranty Trust Holding Company Plc (NGX: GTCO) and Airtel Africa Plc (NGX: AIRTELAFRI)  were the most traded by value, with their shares worth ₦1.74 billion, ₦1.12 billion and ₦746.43 million respectively exchanging hands.

Top gainers and losers

In the day’s trading session, 24 stocks advanced against 29 decliners.

The top five gainers were;

1. Juli Plc (NGX: JULI): It gained 9.52% to close at ₦1.61.
2. Daar Communications Plc (NGX: DAARCOMM): It gained 8.64% to close at ₦0.88.
3. Sunu Assurances Nigeria Plc (NGX: SUNUASSUR): It gained 6.74% to close at ₦1.90.
4. ABC Transport Plc (NGX: ABC): It gained 5.67% to close at ₦0.96
5. Nigerian Aviation Handling Company Plc (NGX: NAHCO): It gained 5.86% to close at ₦30.70.

The top five losers were;

1. MTN Nigeria Communications Plc (NGX: MTNN): It lost 10.00% to close at ₦247.50.
2. Dangote Cement Plc (NGX: DANGCEM): It lost 10.00% to close at ₦686.70.
3. Nigerian Exchange Group Plc (NGX: NGXGROUP): It lost 9.76% to close at ₦22.20.
4. Nem Insurance Plc (NGX: NEM): It lost 9.49% to close at ₦6.95.
5. Tantalizers Plc (NGX: TANTALIZER): It lost 9.52% to close at  ₦0.38.

Three of the five indices under our watch depreciated, while two advanced.

1. Banking Index: The index lost 0.26% to close at 894.11 points (YTD: -0.34%).
2. Industrial Index: The industrial index lost 6.02% to close at 5,010.44 points (YTD: +84.73%).
3. Consumer Goods Index: The index lost 0.77% to 1,627.60 points (YTD: +45.15%).
4. Oil & Gas Index: It lost 0.28% to close at 1,308.44 points (YTD: +25.44%).
5. Insurance Index: The index lost 2.49% to close at 411.92 points (YTD: 28.06%).

Nnamdi Maduakor

Nnamdi Maduakor is a Writer, Investor and Entrepreneur