NGX Equity Market Close Trading On A Bearish Note Following Another N74.92 billion Loss

Investors’ sell-off attitude towards AIRTELAFRI (-1.65%), GTCO (-0.75%), and ACCESS (-0.96%) pushed the opening trade for the week into a bearish mood. Hence, the all-share index fell by a further -0.29% to close at 47,066.77 bps, which represents a dip of 135.53 bps from the previous session figure of 47,207.35 bps.

Looking at the broader picture, the ASI dipped by 263.03 bps from the 52-week All-Time-High of 47,329.80 bps.

The Week-to-Date (W-t-D) declined by -0.29%, while the Month-to-Date (M-t-D) and Year-to-Date (Y-t-D) indicators, however, stayed moderated at +0.95% and +10.50%.

ASI fell, but trade continued to rise, with 388.03 million units traded in 5,619 transactions, compared to the previous session's figure of 311.51 million units traded. The value of shares rose by 29.41% to close at NGN5.68 billion, compared to the previous session's figure of NGN4.39 billion traded.

However, the equity market lost NGN74.92 billion as its cap closed at NGN25,360.70 trillion when compared to the previous session position of NGN25,435.62 trillion. 

FIDELITYBK was the most active stock by volume, with 35.8 million shares worth NGN104.9 million, while NGXGROUP was the most active stock by value, with NGN1.7 billion achieved in 8.4 million units traded.

AIRTELAFRI, with shares valued at NGN647 million, and ACCESS, with 33.9 million units traded, were also notable.

When broken down by sector, the Oil & Gas (-0.2%), Insurance (-0.2%), and Industrial Goods (-0.1%) indices fell, while the Consumer Goods (+1.1%) index rose. The banking index finished unchanged.

As measured by market breadth, the mood in the market was a little more positive than negative. 23 stocks rose, while 21 stocks fell.

The most gains were made by NCR (+10.00%), which closed trading at NGN3.63/unit, GUINNESS (+10.00%), which closed trading at NGN66.55/unit, LEARNAFRCA (+10.00%), which closed trading at NGN1.65/unit, and UPL (+9.81%), which closed trading at NGN2.91/unit, while JAPAULGOLD (-7.69%), which closed trading at NGN0.36/unit, COURTVILLE (-7.27%), which closed trading at NGN0.51/unit, CUSTODIAN (-5.70%), which closed trading at NGN7.45/unit, and NPFMCRFBK (-5.45%), which closed trading at NGN2.08/unit, suffered the most losses.