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:
Despite bargain hunting, equity market gains N52bn
The Nigeria’s equity market Tuesday remained bullish, appreciating by N52 billion amid renewed bargain-hunting activities. Market capitalisation of listed equities on Tuesday appreciated by N52 billion or 0.16 per cent to N32.185 trillion from N32.133 trillion reported the previous day. The NGX All Share Index also increased by 95.17 basis points to 59110.02 points from 59014.85 points traded on Monday. Trading in the shares of United Bank for Africa, GTCO Plc, Transcorps, Access Corp lifted market activities during the day. An analysis of the Investment showed that Academy Press Plc, Sky Ways, Chams Plc and Guinnea Insurance led gainers table during the day in percentage terms, appreciating by 10 per cent each to close at N1.98 per share, N7.70, N0.44 per unit and N0.22 per share respectively, Learn Africa followed with a gain of 9.92 per cent to close at N2.66 per share. On the contrary, C &I Leasing topped losers chart, dropping by 10 per cent to N4.05 per share, Cornerstone Insurance trailed with a loss of 9.82 per cent to close at N1.01 per share, NSL Tech and Veritas Kapital down by 8.70 per cent each to close at N0.42 and 0.21 per share respectively. RTBriscoe Plc dipped 8.11 per cent to close at N0.34 per share. Volume of trades increased by declined by 304.100 million representing 34.06 per cent as investors exchanged 588.854 million shares valued at N8.960 billion in 8272 deals against 892.954 million shares valued at N11.147 billion in 9274 deals. Transactions in the shares of United Bank for Africa led activity chart during the day with 78.511 million shares valued at N907.474 million, GTCO Plc followed with account of 65.398 million shares worth N2.107 billion, Transnational Corporation of Nigeria traded 33.706 million shares valued at N112.040 million, AccessCorps traded 31.378 million shares cost N466.626 million while Veritas Kapital traded 27.759 million shares cost N6.088 million