Nigerian Stock Exchange Witnesses N773 Billion Decline in Equities: Market Update.
The Nigerian Stock Exchange (NSE) recently experienced a slight downturn in its key performance indicators, amidst prevailing bearish sentiment, resulting in a dip of 1412.64 points in the NGX All-Share Index (ASI), settling at 100,582.89 points.
This decline in market capitalization amounted to a significant setback, with a decrease of N773 billion, bringing the total to N55.04 trillion by the session’s Close. The downturn primarily reflects investor pessimism, notably due to substantial drops of 10% and 9.94% in the share prices of FBN Holdings and MTNN, both constituents of the SWOOT group.
Trading activity also witnessed a decline, with a total volume of 280.46 million shares traded, marking a decrease of 13.86 million shares compared to the preceding session.
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Furthermore, the total trading value experienced a downturn, with shares worth N6.12 billion changing hands, indicating an 8.93% decrease from the previous session’s N6.72 billion.
Market Indices Update:
Here’s a summary of the market indices for the current trading session:
- NGX All-Share Index: 100,582.89 points
- Previous ASI: 101,995.53 points
- % Day Change: -1.39%
- % Year-to-Date (YTD): +34.52%
- Market Cap: N55.04 trillion
- Volume Traded: 280.46 million units
- Value: N6.12 billion
- Deals: 9,141
Top Performers and Losers:
Top Gainers:
- AFRIPRUD: +9.86% to close at N7.80
- OMATEK: +9.86% to close at N0.78
- JULI: +9.73% to close at N2.82
- TANTALIZER: +8.11% to close at N0.37
- ELLAHLAKES: +8.07% to close at N2.85
Top Losers:
- FBNH: -10% to close at N30.60
- MULTIVERSE: -10% to close at N15.30
- MTNN: -9.94% to close at N222.90
- MCNICHOLS: -9.79% to close at N1.29
- CONHALLPLC: -9.63% to close at N1.22
Top Traded Stocks:
TRANSCORP led trading activity, with a volume of 44.41 million units exchanged, followed by ACCESSCORP with 30.56 million units and UBA with 26.51 million units.
In terms of transaction value, NASCON topped the list, with transactions worth N893.68 million, followed by Zenith Bank with N874.63 million.
SWOOT and FUGAZ Update:
The banking sector within the SWOOT category, including FBN Holdings, Zenith Bank, and GTCO, has recently witnessed declines in market values. Additionally, telco giant MTNN experienced a significant drop of 9.94% in its share price. Conversely, stability has been maintained by AIRTELAFRI, BUACEMENT, BUAFOODS, DANGCEM, GEREGU, SEPLAT, and TRANSCOHOT.
Across top-tier banking segments—FBN Holdings, UBA, Access Holding, Zenith Bank, and GTCO—there have been varying declines in market worths, indicating a mixed performance in the sector.
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