Business - Market Data
Updated: February 03, 2022

Investors Lose N111.21 Billionn Amid Negative Market Breadth

By Okojie Kelvin Echiejile
February 03, 2022
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The domestic bourse recorded its first loss for the week as profit-taking activities surpassed fresh investment following investors' sell-off attitude towards MTN (-1.23%) and ZENITHBANK (-3.11%) shares. Thus, the all-share-index fell by -0.39% to close at 46,930.66 bps.

Following that decline, the ASI drifted away by 183.99 bps from the 52-week All-Time-High (ATH) of 47,111.21 bps.

As a result, the Year-to-Date (Y-t-D) stayed moderated at +9.87%.

However, the volume of trade increased by 27.34% to 434.9 million units, which were traded in 1,715 transactions, compared to the previous session's figure of 341.52 million units traded, while the value of shares grew by 70.21%, to close at NGN6.3 billion, as against the NGN3.7 billion traded previously.

Consequently, the equity market lost NGN111.12 billion as its cap closed at NGN25,275.41 trillion when compared to the previous session position of NGN25,386.53 trillion.

The most active stock by volume was FIDELITYBNK (+0.35%), as it generated NGN136.7 million in revenue from 47.7 million units of shares traded, while the most active stock by value was SEPLAT (+0.36%), as it generated NGN964.7 billion in revenue from 1.1 million units of shares traded.

NB, with 19.2 million units valued at NGN922.1 million, and MTNN, with 4.3 million units valued at NGN864.1 million traded, were also notable.

As measured by market breadth, market sentiment was negative as 32 companies’ stocks lost relative to 21 gainers.

The most gains were made by IKEJAHOTEL (+10.00%), which closed trading at NGN1.43/unit, CONOIL (+9.96%), which closed trading at NGN26.50/unit, ACADEMY (+9.71%), which closed trading at NGN1.13/unit, and RTBRISCOE (+8.33%), which closed trading at NGN0.26/unit, while ABCTRANS (-8.33%), which closed trading at NGN0.33/unit, COURTVILLE (-6.90%), which closed trading at NGN0.54/unit, MAYBAKER (-5.95%), which closed trading at NGN4.27/unit, and FTNCOCOA (-5.26%), which closed trading at NGN0.36/unit, suffered the most losses.