NGX Equity Trading Kicks Off With Loss Of N22.26 Billion

Trading for the first day of the week closed in a rather disappointing fashion as investors cashed out from stocks of UBA (-1.22%), GTCO (-0.58%), and NB (-1.46%). Thus, the all-share-index closed lower by -0.06% to close at 45, 928.27 bps.

Consequently, this all-share index figure fell by 29.08 bps from its 52-week ATH figure of 45,977.35 bps, thereby creating a bit of a concern for the market.

The above scenario impacted negatively on the Week-to-Date data as it closed at -0.06%, while the Month-to-Date, and Year-to-Date (Y-t-D) moderated positively at +7.52%.

Accordingly, the volume of trade decreased by -1.06%, to 278.61 million units, and was exchanged in 2,915 deals as against its previous session figure of 281.6 million units traded. However, these shares jumped in value by +19.71%, to close at NGN2.89 billion, as against the NGN2.4 billion traded previously.

Fortunately, the equity market cap lost NGN22.26 billion to close at NGN24,738.71 trillion when compared to the previous session day's position of NGN24,760.97 trillion.

SEPLAT (+3.30%) was the most active stock by value, as it generated NGN797.4 million in revenues from 1 million units of shares traded, while the most active stock by volume was CHAMS, with 40 million units traded valued at NGN8.1 million.

Despite their unimpressive showing, these companies were still mentioned. They were UBA with 35.1 million units valued at NGN284.7 million and GTCO (-0.58%) with 11.1 million units worth NGN284.2 million traded.

As measured by market breadth, market sentiment was negative as 23 companies’ stocks lost relative to 14 gainers.

The most gains were made by NNFM (+9.49%), which closed trading at NGN8.65/unit, ACADEMY (+9.09%), which closed trading at NGN0.72/unit, COURTVILLE (+8.70%), which closed trading at NGN0.50/unit, and ABCTRANS (+5.88%), which closed trading at NGN0.36/unit, while REGALINS (-9.52%), which closed trading at NGN0.38/unit, FTNCOCOA (-7.59%), which closed trading at NGN0.36/unit, NEM (-5.41%), which closed trading at NGN3.50/unit, and SOVRENINS (-4.17%), which closed trading at NGN0.23/unit, suffered the most losses.