Stocks of Fidelity Bank, Access Bank, Transcorp, and others were the most traded on Monday despite the Nigerian Exchange Limited (NGX) extending its last week decline.
Investors exchanged 338,025,487 shares worth N5.675 billion in 5,619 transactions during the trading hours of Monday. The NGX All-Share Index dipped by 0.29 percent to 47,063.28 index points, down from 47,279.92 index points it closed on Friday.
Market value of all listed equities depreciated by N75 billion to N25.361 trillion from N25.436 it settled on Friday.
Breaking down each sector, the NGX banking index inched up 4bps on Fidelity Bank (+0.68%) and Zenith Bank (+0.56%). Unity Bank (-4.00%), Sterling Bank (-1.16%) and Access Bank (-0.95%) lost points.
The NGX consumer goods Index closed up 114bps on Guinness (+10.00%), Champion (+7.58%), Unilever (+6.08%), and Flour Mill (+3.56%). Losers were Vitafoam (-6.13%), Honey Flour (-4.29%) and NB (-0.31%).
While the NGX oil and gas index lost 24bps on Oando (-1.60%) and NGX industrial index shed 7bps on WAPCO (-0.93%).
The Exchange year-to-date gain dropped to 10.18 percent. See the details of top gainers and losers below.
|GUINNESS||N 60.50||N 66.55||6.05||10.00 %|
|NCR||N 3.30||N 3.63||0.33||10.00 %|
|LEARNAFRCA||N 1.50||N 1.65||0.15||10.00 %|
|UPL||N 2.65||N 2.91||0.26||9.81 %|
|ACADEMY||N 1.36||N 1.49||0.13||9.56 %|
|JAPAULGOLD||N 0.39||N 0.36||-0.03||-7.69 %|
|COURTVILLE||N 0.55||N 0.51||-0.04||-7.27 %|
|CUSTODIAN||N 7.90||N 7.45||-0.45||-5.70 %|
|NGXGROUP||N 26.50||N 25.00||-1.50||-5.66 %|
|NPFMCRFBK||N 2.20||N 2.08||-0.12||-5.45 %|
Bearish Sentiment Persists: Investors Lose N112 Billion on NGX
Nigerian Stock Market Dips as Weak Momentum Drains N39 Billion from Investors
Dr. Yemi Cardoso’s Nomination Boosts Confidence as Stock Investors Gained N264 Billion
The bullish momentum in the Nigerian Exchange Limited continued on Tuesday as investors pocketed N264 billion in profit following Monday’s gains of N263 billion.
Both the market capitalization and the All-Share Index, which gauge the movement of share prices for all listed companies surged by 0.71 percent to N37.413 trillion and 68,359.22 points, respectively.
This optimistic trading trend emerges as investors increasingly show confidence in the local market and the broader economy, fueled in part by the news of Dr. Yemi Cardoso’s nomination as the Governor of the Central Bank of Nigeria.
As Tuesday’s session drew to a close, the volume of shares traded experienced a significant uptick of 31.33 percent to 676.74 million. However, the number of deals declined by 8.35 percent to 7,659 while the total trade value decreased by 33.97 percent to N5.89 billion.
Market sentiments also leaned towards the bullish side, with 36 gainers outpacing the 27 losers.
Among the top-performing stocks that caught the attention of investors were:
- Berger Paints Plc, which surged by 9.95 percent to conclude the trading day at N11.60.
- Oando Plc, which recently released its audited results for 2021, saw a 9.92 percent increase, closing at N13.30.
- BUA Foods, which gained 6.32 percent to close at N196.70.
- PZ’s shares appreciated by 1.45 percent per unit, ending at N20.
- GTCO Plc stock increased in value by 0.43 percent, closing at N35.40.
On the flip side, the top losers included:
- SCOA Plc, witnessing a 10 percent depreciation in its shares, closing at N1.24.
- Unilever’s shares recorded an 8.28 percent drop, concluding at N13.30.
- United Bank for Africa Plc, which lost 1.96 percent in share value, closing at N17.50.
- FBN Holdings Plc, suffering a 1.69 percent decline, closing at N17.40.
- Accesscorp’s shares depreciated by 0.29 percent, closing trading at N17.40.
The Nigerian Exchange continues to display its resilience and attractiveness to investors, making it an exciting space to watch for potential opportunities and market trends.
News4 weeks ago
Npower Program Restores Hope with Long-Awaited Stipend Disbursement
Commodities4 weeks ago
Three Chinese Groups Vying to Acquire $2 Billion Botswana Copper Mine
News3 weeks ago
Government Plans to Revamp Npower Scheme and Combat Poverty
Banking Sector4 weeks ago
Guaranty Trust Holding Co. Surpasses Expectations with $468 Million Forex Windfall
Forex4 weeks ago
Black Market Dollar to Naira Today, September 7th, 2023
Government4 weeks ago
French Influence Wanes in Africa: Is Macron’s Africa Policy Doomed?
Black Market Rate4 weeks ago
Dollar to Naira Black Market Today, 2nd September 2023
Cryptocurrency4 weeks ago
Ripple Labs Objects to SEC’s Request for Appeal in Landmark Cryptocurrency Case