Equities Market Stumbles, Loses N444 Billion as Major Stocks Retreat

The Nigerian equities market’s recent bullish streak hit a roadblock on Wednesday, as heavy selloffs erased N444 billion in market value, rattling investors and shaking confidence in key sectors Significant declines in Learn Africa, Cadbury, Meyer, UPDC, International Breweries, and 24 other laggards pushed the market into negative territory, pulling the market capitalisation down by 0.49 per cent to N90.996 trillion from Tuesday’s N91.440 trillion. The All-Share Index (ASI) also retreated, shedding 698.56 points, or 0.49 per cent, to close at 143,064.57 from 143,763.13 recorded the previous session. Consequently, the Year-To-Date (YTD) return dipped to 39.00 per cent following the session’s downturn. Despite the pullback, market breadth ended positive, with 29 gainers outpacing 27 decliners. AIICO Insurance led the gainers, surging 10 per cent to N3.52, followed closely by NCR Nigeria, which added 9.96 per cent to close at N49.70. Ikeja Hotel rose 9.41 per cent to N25, while Prestige Assurance and Sterling Nigeria gained 7.38 per cent and 6.85 per cent to N1.60 and N7.80, respectively. On the other hand, Learn Africa topped the losers, falling 10 per cent to N5.22, with Cadbury dropping 9.92 per cent to N53.10. Meyer slid 9.91 per cent to N14.55, extending the day’s decline in consumer stocks, while UPDC lost 8.83 per cent to close at N5.47, and International Breweries dropped 8.33 per cent to N11 per share. Market activity, however, improved across key metrics. Investors traded 738.35 million shares worth N35.5 billion across 19,919 deals, compared with 556.2 million shares valued at N18.7 billion executed in 19,500 deals on Tuesday. GTCO recorded the highest volume and value, with 134.12 million shares worth N11.57 billion exchanging hands during the session.

Nigerian Equities Market Slumps N1.17 Trillion on Monday

Equities Market Opens Week Lower, N1.173 Trillion Lost in Capitalisation The Nigerian equities market opened the week on a negative note on Monday, losing N1.173 trillion or a 1.26 per cent decline. The downturn was largely driven by profit-taking in major stocks, including Dangote Cement, Enamelware, Transcorp Power, AIICO Insurance, and Guinea Insurance. Market capitalisation closed at N92.328 trillion, down from the opening value of N93.501 trillion. The All-Share Index (ASI) dipped by 1,853.82 points, or 0.26 per cent, ending at 145,159.77 compared with 147,013.59 on Friday. Despite the overall decline, market breadth remained positive, with 28 stocks gaining against 24 losers. Top Gainers: Top Losers: Trading Activity:Total turnover for the day stood at 388.2 million shares worth N31.14 billion, traded in 28,492 deals. This was lower than Friday’s volume of 4.89 billion shares valued at N42.2 billion across 24,152 transactions. Notable Trades:

Nigeria’s equities bounces back, gains N41bn

Transactions on the floor of the Nigerian Exchange (NGX) on Wednesday closed on a positive note, appreciating by N41 billion.  The market capitalisation of listed equity appreciated by 0.12 percent to N34.973 trillion from N34.932 trillion reported the previous day. The NGX All Share Index also increased 75.16 basis points to 64267.36 points from 64192.20 points traded the previous day. A review of the investment showed that Nascon, Chams Plc, and Abbey Building Society led the gainers’ table in percentage terms, gaining 10 percent to close at N35.75 per share, N0.99 and N1.21 per share respectively. Skyways Aviation Handling followed with a gain of 9.96 percent to close at N28.15 per share, and Dangote Sugar Refinery added 9.93 percent to close at N32.65 per unit. On the other hand, Thomas Way and TIP topped the losers’ chart with a drop of 10 percent each to close at N1.17 and N0.72 per share respectively. UPL trailed with a loss of 9.78 percent to close at N2.49 per unit, Omatek fell by 9.76 percent to close at N0.37 per share, JohnHolt was down by 9.44 percent to close at N1.63 per share. Volume of trades declined by 431.313 million, representing 56.60 percent as investors traded 330.784 million shares valued at N4.269 billion in 6251 deals against 762.097 million shares worth N7.710 billion in 7935 deals. Trading activities on the shares of Transnational Corporation of Nigeria (Transcorp) led market activities with 58.829 million shares worth N209.186 million, FBNHoldings followed with an account of 27.951 million shares cost N502.759 million, Ecobank Transnational Incorporate traded 21.303 million shares cost N330.246 million, AccessCorp exchanged 20.697 million shares cost N34.178 million while Chams Plc traded 16.964 million shares valued at N16.135 million.