Nigerian Exchange Limited
Weak Sentiment Continues to Dictate Nigeria’s Stock Performance
Nigerian Exchange Limited (NGX) returned to the red zone on Monday despite the banking sector posting gains.
Stocks closed in the red on Monday amid growing weak sentiment in the Nigerian equities market. A total of 19 stocks closed in the green, against 22 stocks that lost points.
Investors traded 1,280,473,135 shares worth N7.919 billion during the trading hours of Monday. However, about 50% of the transactions were done on FCMB shares. FCMB investors transacted 1,024,056,551 shares valued at N3,839,067,183.92 to suggest a possible insider dealing.
Market value of all listed equities declined by N5 billion or 0.02% to N25.561 trillion while the Nigerian Exchange Limited (NGX) All-share Index depreciated by 8.81 index points or 0.02% to 47,428.67 index points.
Breaking down each sector, the NGX banking index appreciated by 115 basis points on 7.27% gained in Ecobank, 1.75% increase in the value of United Bank for Africa, 0.99% appreciation in Access Bank and 0.81% surged in Union Bank of Nigeria. Jaiz Bank posted a 4% decline.
Similarly, the NGX industrial index gained 12bps on 1.91% and 0.88% increase in WAPCO and CUTIX, respectively.
However, consumer goods and oil and gas were the two indexes that dragged the value of the Nigerian Exchange Limited down. Consumer goods lose 41bps on declines in the value of Intbrew, PZ, Unilever and NB. Vitafoam was the only gainer.
The oil and gas index depreciated by 33bps on 10% and 4.38% decline in Eterna and Conoil, respectively. The Exchange year-to-date return grew to 11.03%. See the top gainers and lowers below.
Top Gainers
| Symbols | Last Close | Current | Change | %Change |
|---|---|---|---|---|
| RTBRISCOE | N 0.73 | N 0.80 | 0.07 | 9.59 % |
| ETI | N 11.00 | N 11.80 | 0.80 | 7.27 % |
| PRESTIGE | N 0.46 | N 0.49 | 0.03 | 6.52 % |
| NIGERINS | N 0.22 | N 0.23 | 0.01 | 4.55 % |
| MBENEFIT | N 0.26 | N 0.27 | 0.01 | 3.85 % |
Top Losers
| Symbols | Last Close | Current | Change | %Change |
|---|---|---|---|---|
| ETERNA | N 5.60 | N 5.04 | -0.56 | -10.00 % |
| CWG | N 1.10 | N 0.99 | -0.11 | -10.00 % |
| ROYALEX | N 1.21 | N 1.09 | -0.12 | -9.92 % |
| VERITASKAP | N 0.23 | N 0.21 | -0.02 | -8.70 % |
| SCOA | N 2.83 | N 2.60 | -0.23 | -8.13 % |
Top Trades
| Symbols | Volume | Value |
|---|---|---|
| FCMB | 1024056551.00 | 3839067183.92 |
| FIDELITYBK | 38138012.00 | 108873955.99 |
| ZENITHBANK | 28462276.00 | 768123723.40 |
| TRANSCORP | 20998521.00 | 23791024.74 |
| GTCO | 17016839.00 | 455383584.80 |