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  • Business - Market Data
  • Updated: February 12, 2022

Profit-Takers Force NGX Equity Market To Bearish Close As Market Loses N45.28 Billion

Profit-Takers Force NGX Equity Market To Bearish Close As Ma

Trading in the equity market of the Nigerian stock exchange came to a bearish close following investors’ profit-taking attitude over SEPLAT and ZENITHBANK shares. Thus, the all-share index fell by -0.18% to close at 47,202.30 bps.

The decline signified a 127.5 bps drop from the 52-week All-Time-High of 47, 329.80 bps.

The Year-to-Date (Y-t-D) indicator, however, stayed moderated at +10.50%.

Despite the fall in the ASI, the volume of trade still grew by 57.23% to 311.51 million units, which were traded in 4,916 transactions, compared to the previous session's figure of 198.12 million units traded, while the value of shares grew by 28.73% to close at NGN4.39 billion, as against the NGN3.41 billion traded previously.

However, the equity market lost NGN45.28 billion as its cap closed at NGN25,435.62 trillion when compared to the previous session position of NGN25,480.90 trillion.

ACCESS was the most active stock by volume, with 30.8 million shares worth NGN322.4 million, while NGXGROUP was the most active stock by value, with NGN773.22 million achieved in 9.73 million units traded.

ZENITHBANK, with shares valued at NGN450 million, and CHAMS, with 22.18 million units traded, were also notable.

As measured by market breadth, market sentiment was positive as 19 companies’ stocks gained relative to 16 stocks that lost.

The most gains were made by GUINNESS (+10.00%), which closed trading at NGN60.50/unit, NCR (+10.00%), which closed trading at NGN3.30/unit, SCOA (+9.88%), which closed trading at NGN1.78/unit, and RTBRISCOE (+8.33%), which closed trading at NGN0.39/unit, while PHARMDEKO (-8.84%), which closed trading at NGN1.65/unit, NEM (-3.20%), which closed trading at NGN3.32/unit, CHAMPION (-5.80%), which closed trading at NGN2.11/unit, and CUTIX (-4.94%), which closed trading at NGN2.31/unit, suffered the most losses.

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