ASI
Bears dominate as stock tumble 353.51 points, shedding N200 billion in value
The NGX concluded its trading day in the red, with a dominant selling trend that surpassed buying interest.
The All-Share Index fell by 353.51 points, ending at 99,311.54 points, indicative of a general pessimistic investor sentiment.
There was also a downturn in market capitalization, which saw a reduction of about N200 billion, settling at N56.167 trillion from a previous N56.367 trillion.
This downward trend was largely due to poor performances by major financial companies in the SWOOT sector.
In contrast, SUNUASSUR and LEARNAFRICA bucked the trend with an impressive 10% rise in their stock prices, surpassing 16 other stocks that saw gains. On the flip side, HONYFLOUR led the decline among 25 stocks, with its share price falling by 9.89%.
Although TRANSCORP topped the charts in terms of trading volume and value, the total number of trades for the day experienced a drop, closing with 7,324 transactions compared to the 8,298 deals recorded in the previous session.
Market Indices
- NGX All-Share Index: 99,311.54 points
- Previous ASI: 99,665.05 points
- % Day Change: -0.35%
- Day’s Lowest: 99,293.28 points
- Day’s Highest: 99,758.16 points
- % YTD: +32.82% (Previous: +33.29%)
- Market Cap: N56.167 trillion
- Volume Traded: 574.43 million units
- Value: N7.843 billion
- Deals: 7,324
Top Gainers
- SUNUASSUR: +10% to close at N1.10
- LEARNAFRICA: +10% to close at N3.00
- JAPAULGOLD: +9.84% to close at N2.01
- TIP: +9.44% to close at N1.80
- CAP: +9.38% to close at N26.25
Top Losers
- HONYFLOUR: -9.89% to close at N3.19
- FBNH: -9.88% to close at N21.90
- OANDO: -9.82% to close at N10.10
- FTNCOCOA: -9.40% to close at N1.35
- NESTLE: -8.89% to close at N820.00
Top Traded Stocks
Despite a downturn in trading activities, the market saw a substantial 87.34% surge in trade volumes, adding 267.81 million shares and reaching a total of approximately 574.43 million shares traded. This is a notable increase from the 306.62 million shares in the prior session.
Leading the volume was TRANSCORP with 1.26 billion shares, with UPDCREIT not far behind at 1.21 billion shares. Other significant volumes were recorded by UBA at 55.49 million shares, ACCESSCORP at 51.47 million, and UNIVINSURE at 50.84 million shares.
In terms of trade value, there was a 47.95% rise, totaling N7.84 billion, up from N5.301 billion in the last session, reflecting a N2.54 billion increment.
TRANSCORP dominated trade values as well, with N1.89 billion in trades. They were followed by UBA with N1.28 billion, ACCESSCORP with N833.25 million, ZENITHBANK with N798.73 million, and NESTLE with N676.04 million.
SWOOT and FUGAZ Update
The Nigerian stock market concluded the day on a downward trend, primarily influenced by the downturn of key banks within the SWOOT group. Notably, Zenith Bank experienced a significant 5.01% fall in stock value, accompanied by a 2.59% dip for GTCO.
In contrast, several firms including AIRTELAFRICA, BUACEMENT, BUAFOODS, DANGCEMENT, GEREGU, MTNN, SEPLAT, TRANSCOHOT, and TRANSPOWER, demonstrated resilience by keeping their stock prices steady during the market’s volatility.
Within the banking sector, UBA was the sole entity to register a slight increase of 0.66%. Conversely, FBN Holdings, Zenith Bank, Access Holdings, and GTCO all saw their stock values decline by 9.88%, 5.01%, 4.46%, and 2.59%, respectively.
