Nigerian Stock Exchange Loses N5 Billion in Equities Value as Bearish Mood Sets In

The positive trajectory of the Nigerian Stock Exchange (NSE) took a turn as the combined value of listed stocks underwent a decrease of N5 billion, culminating in a closing value of N35.795 trillion. This marks a shift from the preceding closing amount of N35.845 trillion.

Furthermore, the All-Share Index (ASI) exhibited a minor descent of 90.99 points, concluding at 65,401.82 points. This figure represents a 0.14% decline from the previous day’s closure at 65,492.81 points.

Likewise, the Year-to-Date (YtD) return for the stock market underwent a moderate decline, settling at 27.61% in comparison to the earlier figure of 27.79%.

Market Indices 

Below are the market indices for today’s trading session:  

NGX ASI: 65,401.82 points  

% Day Change: -0.14% 

% YTD: +27.61% 

Market Cap: N35.795 trillion  

Volume Traded: 348.32 million  

Value: N12.90 billion  

Deals: 6,968 

How Stocks Performed 

The market showed resilience today, with OMATEK, DANGSUGAR, NASCON, CWG and TRANSCORP gaining 10% each. While other stocks rose, FTNCOCOA suffered the biggest loss, dropping 9.95% to end at N1.81. 

With a remarkable trading volume of 144.49 million shares in deals, TRANSCORP distinguished itself as a leading player, while GTCO emerged as the top stock with the highest trading value of N1.54 billion in total. 

The number of deals in the investor’s landscape rose by 731, reaching 6,968 in total. This showed a positive trend in activity compared to the previous figure of 6,237. 

Top Gainers and Losers

Out of the 19 stocks that appreciated in value, OMATEK, DANGSUGAR, NASCON, CWG and TRANSCORP were the top performers, as they each increased by 10% in their share prices.  

Their closing prices reached N0.33, N44.0, N40.70, N4.95 and N5.28 per share respectively, ending the session with a strong positive outcome. 

On the other hand, FTNCOCOA, REDSTAREX, and LEARNAFRICA were among the worst performers of 39 losers of the day, as they saw significant drops in their stock values by 9.95%, 9.93%, and 9.88% respectively. 

Top Traded Stocks  

The exchange saw a remarkable increase of 8.85 billion in the worth of shares traded, which was 2.19% higher than the previous value of N4.05 billion. The new value reached N12.90 billion by the end of today’s session. 

The number of shares traded increased significantly, with a 67.4% or 234.77 million shares jump to 583.09 million shares in total. This was a remarkable contrast to the previous session, which had a lower trading volume of 348.32 million shares. 

The most traded stock was TRANSCORP, with a huge volume of 144.49 million shares. Next, STERLINGNG attracted interest with 63.33 million shares exchanged. ACCESSCORP came third in trading activity, with a volume of 54.73 million shares traded. 

GTCO was the most traded stock, with a turnover of N1.54 billion. ACCESSCORP came second, with transactions worth N880 million. TRANSCORP was also notable, with a trade value of N724.32 million. 

SWOOTs Watch 

GTCO was the only SWOOTs group company that saw a 0.2% rise in its share value, while ZENITHBANK and MTNN experienced declines of 0.4% and 0.5% respectively in their earnings. 

Meanwhile, the shares of AIRTELAFRICA, DANGCEMENT, BUAFOODS and BUACEMENT remained unchanged, demonstrating their stability amid the market volatility that affected other stocks. 

FUGAZ Update 

A slight increase of 0.2% in GTCO’s share price was the only positive outcome for the top five leading banks; ZENITHBANK, UBA, FBNH and ACCESSHOLDINGS saw their earnings drop by 0.4%, 0.05%, 0.95% and 0.55% respectively.