OANDO Leads Equity Market Loss Of N51.4 Billion As Profit-Taking Continues

Profit-taking continued on the floor of the domestic bourse following investors’ sell-off on shares of GTCO (-0.57%), NESTLE (-2.79%), and UBA (-1.94%).

Thus, the all-share index fell by -0.20% to close at 47,156.56 basis points, down by 95.36 basis points from the previous session's close of 47,251.93 basis points.

Furthermore, the ASI index fell short of the 52-week high position all-share index of 47,482.73 basis points (the highest resistance point) by 326.17 bps.

The Week-to-Date (W-t-D) and Month-to-Date (M-t-D) indices stayed negative by -0.27% and -0.50%, respectively, while the Year-to-Date (Y-t-D) index moderated upwards to +10.39%.

There was a 42.10% increase in the number of units traded to 303.48 million units traded in 4,616 transactions, compared to the previous session's figure of 213.57 million units traded. At the same time, the value of shares fell by 45.87% to NGN3.90 billion, compared to the previous session's figure of NGN2.68 billion traded.

The equity market lost NGN51.4 billion, closing at NGN25,414 trillion, down from NGN25,466.22 trillion in the previous session.

ACCESS, continued its dominance of the volume trade, with 44.15 million units traded, while ZENITHBANK was the most dominant stock by value, with NGN758 million traded.

Some of the notable mentions included GTCO, with a share value of NGN737.47 million, and UBA, with a volume trade of 39.54 million units, among others.

As measured by market breadth, the mood in the market was negative as 16 stocks gained relative to 27 losers.

The most gains were made by NPFMCRFBK (+9.52%), which closed trading at NGN2.53/unit, FCMB (+7.94%), which closed trading at NGN3.67/unit, PRESTIGE (+6.52%), which closed trading at NGN0.49/unit, and CHAMS (+4.76%), which closed trading at NGN0.22/unit, while JAPAULGOLD (-8.82%), which closed trading at NGN0.31/unit, CHAMPION (-8.78%), which closed trading at NGN1.87/unit, OANDO (-6.75%), which closed trading at NGN4.70/unit, and MANSARD (-6.52%), which closed trading at NGN2.15/unit, registered the most losses.