Stocks Report: Investors Trade Shares Valued at N4.163 Billion on Wednesday

The Nigerian Exchange Limited (NGX) closed in the red on Wednesday as investors’ sentiment fell across the Exchange, Investors King reports.

Trading activity dropped at the Exchange when compared to Tuesday. Investors at the bourse transacted 279,953,931 shares worth N4.163 billion in 5,620 transactions during the trading hours of Wednesday, against 370,543,295 shares valued at N7.853 billion that exchanged hands in 6,045 deals on Tuesday.

The market value of all the listed equities depreciated by 0.26% or N66 billion from N25.591 trillion to N25.525 trillion to put a lid on Tuesday’s gain while the NGX All-Share Index also dipped by 0.26% or 121.94 index points from 47,482.73 index points on Tuesday to 47,360.79 index points on Wednesday.

Breaking down sectorial performance, the banking industry lost 132 basis points (bps) on the back of a broad decline in the values of Fidelity Bank (5%), Jaiz Bank (4.11%), Ecobank (3.49%), Sterling Bank (2.52%), UBA (1.75% and Zenith Bank (0.19%).

The decline continues in the consumer goods industry, shedding 128bps as stocks of Intbrew, Dangote Sugar and Vitafoam lost 9.73%, 7.69% and 4.48%, respectively. Gains recorded in PZ (2.86%), Honey Flour (1.32%) and Unilever (0.70%) were not enough to sustain the sector.

The industrial industry was not different with a 55bps depreciation on 7.69% and 5.35% declines in the value of Wapco and Cutix, respectively.

The oil and gas industry, however, posted a 509bps gain on the back of the Russia-Ukraine war that has sent crude oil prices flying above $110 per barrel. Seplat closed with a 9.33% gain even though Oando sheds 1.03%.

A total of 15 stocks closed in the green during the trading hours of Wednesday while 34 stocks lost points. The NGX year-to-date return moderated to 10.87%. See the details of losers and gainers below.

Top Gainers 

Top Losers

Top Trades