ACCORDING to trading data after eighteen sessions of uptrending, the Nigerian Exchange (NGX) dipped yesterday, losing more than N52 billion. Profit-taking in some bellwether stocks including MTNN, NB, and 11 others, including banking stocks, caused the equities market to fall by 0.19 percent.
As a result, the Nigerian All-Share Index dropped 97.07 basis points, or 0.19 percent, to settle at 51,805.41, according to stockbrokers at Atlass Portfolios Limited.
Equity market capitalization fell by 52.36 billion to settle at 27.93 trillion as a result of profit booking on previous companies’ equities that had their share values rerated. Market activity was also gloomy, with total volume and value transaction down 1.79 percent and 9.34 percent, respectively.
According to Atlass Portfolios Limited, 331.52 million units worth $5.34 billion were traded in 6,689 transactions, according to statistics from the Nigerian Exchange.
GTCO was the most actively traded stock in terms of volume, accounting for 15.68 percent of all transactions. The top five on the volume table were TRANSCORP (12.48 percent), FBNH (4.25 percent), OANDO (4.10 percent), and REGALINS (3.16 percent).
GTCO was the most traded stock in terms of value, according to stockbrokers, accounting for 24.39 percent of the total value of trades on the market. OKOMUOIL, MAYBAKER, and MULTIVERSE were the leading advancers, each with a 10% price rise.
The companies were trailed closely by INTBREW (9.46%), UNILEVER (9.29%), OANDO (7.14%), BUAFOODS (5.88%), UACN (4.31%), UCAP (2.63%), DANGSUGAR (1.85%), WAPCO (0.88%), VITAFOAM (0.62%), FLOURMILL (0.29%) and twenty-two (22) others.
Thirteen (13) stocks depreciated, topped by NAHCO with a price depreciation of 4.12 per cent to close at ₦6.51. WEMABANK (-3.73%), MTNN (-3.61%), NB (-2.53%), AFRIPRUD (-0.83%), UBA (-0.62%), FIDELITYBK (-0.27%) and ZENITH BANK (-0.21%) also dipped in price. Overall, the market breadth was largely positive, recording 35 gainers and 13 losers.
The sectoral performance was good, according to Atlass Portfolios Stockbrokers, with four of the five sectors closing higher than the previous session, led by Insurance (2.14 percent), Oil & Gas (0.97 percent), Consumer Goods (0.78 percent), and Industrial Goods (0.78 percent) (0.06 percent ).
The Banking sector lost 0.06 percent of its initial value yesterday.
