Nigerian Exchange Limited
Nigeria’s Stock Market Struggles to Sustain Gains on Wednesday
Activity level dropped across the bourse as stock traders exchanged 246,703,657 shares valued at N2.321 billioon in 5,033 transactions during the trading hours of Wednesday
The Nigerian Exchange Limited (NGX) managed to stay above the water on Wednesday to extend its gains for the week by N2 billion.
Activity level dropped across the bourse as stock traders exchanged 246,703,657 shares valued at N2.321 billioon in 5,033 transactions during the trading hours of Wednesday, against 464,733,314 shares worth N7.10 billion that exchanged hands in 6,468 deals on Tuesday.
Breaking down each sector, the banking index extended its decline by another 146 basis points after Tuesday’s depreciation. The decline was a result of 6.25% drop in Union Bank of Nigeria, 3.90% in Jaiz Bank, 2.62% in Zenith Bank and 1.32% in Fidelity Bank. Wema Bank and UBA were the two gainers with 9.88% and 1.23%, respectively.
The gauge for the oil and gas industry, the oil and gas index lost 72bps on a 4.68% and 4% decline in Eterna and Oando, respectively.
However, the consumer goods index appreciated by 68bps on 9.68%, 7.54%, 4.50%, 3.13% and 1.69% gain in Cadbury, Guinness, Vitafoam, Dangote Sugar and Flour Mills. Nigerian Breweries and Unilever were the only stocks in the category that closed lowers.
Also, the industrial index rose by 37bps on a 4.35% increase in the value of Cutix and a 0.96% gain in BUA Cement.
The NGX All-share Index appreciated 0.01% to 48,571.75 index points on Wednesday, slightly above the 48,568.57 index points it closed on Tuesday. The market value of all the listed equities grew by N2 billion from N26.184 trillion it settled on Tuesday to N26.186 trillion on Wednesday. The Nigerian Exchange Limited has now gained N61 billion this week.
A total of 19 stocks closed in the green against the 23 stocks that lost points. The Exchange year-to-date return stood at 13.71%. See the details of top gainers and losers below.
Top Gainers
| Symbols | Last Close | Current | Change | %Change |
|---|---|---|---|---|
| ACADEMY | N 1.21 | N 1.33 | 0.12 | 9.92 % |
| WEMABANK | N 3.34 | N 3.67 | 0.33 | 9.88 % |
| CADBURY | N 7.75 | N 8.50 | 0.75 | 9.68 % |
| UPDC | N 0.88 | N 0.96 | 0.08 | 9.09 % |
| PRESCO | N 132.00 | N 143.85 | 11.85 | 8.98 % |
Top Losers
| Symbols | Last Close | Current | Change | %Change |
|---|---|---|---|---|
| IKEJAHOTEL | N 1.55 | N 1.40 | -0.15 | -9.68 % |
| LIVESTOCK | N 1.79 | N 1.62 | -0.17 | -9.50 % |
| CHIPLC | N 0.64 | N 0.58 | -0.06 | -9.38 % |
| UBN | N 6.40 | N 6.00 | -0.40 | -6.25 % |
| CORNERST | N 0.66 | N 0.62 | -0.04 | -6.06 % |
Top Trades
| Symbols | Volume | Value |
|---|---|---|
| MULTIVERSE | 36237453.00 | 7284830.10 |
| TRANSCORP | 26059064.00 | 29936458.37 |
| WAPCO | 14533149.00 | 392652251.20 |
| FIDELITYBK | 12562498.00 | 46673198.81 |
| GTCO | 12290704.00 | 294291309.00 |