Nigerian stock market daily report: Local bourse begins the week with 0.73% loss

The Nigerian Exchange’s equities market began the week with a loss, as it’s All-Share Index dropped 761.42 points on Monday.

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The NGX All-Share Index lost 0.73%, to close at 103,659.81 points. Investors lost  ₦437 billion as market capitalization dropped to ₦56.72 trillion at the end of trading on Monday.

Loses in the banking sector coupled with little or no movement in others dictated the market direction. Loses in Fidelity Bank Plc (-9.38%), Jaiz Bank Plc (-7.93%), Access Holdings Plc (-3.7%), United Bank for Africa Plc (-2.86%) and small loses in other bank counters pushed the Banking Index down by 2.30%.

Activity Level

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

The volume of shares and value of shares traded dropped by 10.81% and 17.67% respectively, while the number of deals done also decreased by 18.78%.

By the end of trading, 841.55 million shares valued at ₦19.32 billion had exchanged hands in 13,674 deals.

Shares of FBN Holdings Plc (NGX: FBNH), Transnational Corporation Plc (NGX: TRANSCORP), and Oando Plc (NGX: OANDO) were the most traded stocks by volume with 332.29 million, 49.96 million and 43.50 million shares respectively.

Shares of FBN Holdings Plc (NGX: FBNH), Nigerian Breweries Plc (NGX: NB),  and Geregu Power Plc (NGX: GEREGU) were the most traded by value, with their shares worth ₦8.95 billion, ₦1.13 billion and ₦979.50 million respectively exchanging hands.

Top gainers and losers

In the day’s trading session, 26 stocks advanced against 29 decliners.

The top five gainers were;

1. Cadbury Nigeria Plc (NGX: CADBURY): It gained 10% to close at ₦22.00.
2. Cornerstone Insurance Plc (NGX: CORNERST): It gained 10% to close at ₦2.09.
3. Daar Communications Plc (NGX: DAARCOMM): It gained 10% to close at  ₦0.77.
4. May & Baker Plc (NGX: MAYBAKER): It gained 10% to close at ₦6.93.
5. Meyer Plc (NGX: MEYER): It gained 10% to close at ₦4.73.

The top five losers on were;

1. Abbey Mortgage Bank Plc  (NGX: ABBEYBDS): It lost 9.70% to close at ₦2.70.
2. Livestock Feeds Plc (NGX: LIVESTOCK): It lost 9.66% to close at ₦1.87.
3. Fidelity Bank Plc (NGX: FIDELITYBK): It lost 9.38% to close at ₦11.60.
4. Jaiz Bank Plc (NGX: JAIZBANK): It lost 7.93% to close at ₦2.67.
5. MTN Nigeria Communications Plc (NGX: MTNN): It lost 5.52% to close at ₦274.

Three out of the five indices under our watch closed positively, one lost and the other closed flat.

1. Banking Index: The index lost 2.30% to close at 953.13 points (YTD: +6.23%).
2. Industrial Index: The industrial index gained marginally to close at 5,666.54 points (YTD: +108.92%).
3. Consumer Goods Index: The index gained 31.98% to 1,479.87 points (YTD: +31.98%).
4. Oil & Gas Index: It closed flat at 1,251.64 points (YTD: +20.00%).
5. Insurance Index: The index gained 2.67% to 428.81 points (YTD: +33.31%).

Nnamdi Maduakor

Nnamdi Maduakor is a Writer, Investor and Entrepreneur