Stock Market
Nigerian Stock Market Gained N521 Billion as Apple, Others Shed $1 Trillion
Nigerian stock market opened the week with a whopping N521 billion gain despite the world’s largest technology companies shedding $1 trillion in the last three trading days, Investors King reports.
Investors in the Nigerian Exchange Limited (NGX) exchanged 337,564,205 shares worth N5.555 billion in 7,684 deals during the trading hours of Monday.
Breaking down key sectors, the NGX consumer goods index appreciated by 215 basis points on the back of a 10% gain in Nigerian Breweries, a 9.96% increase in the value of Cadbury, Intbrew grew by 9.63% and Honey Flour gained 1.94%. The two losers were Guinness and Flour Mills.
The oil and gas index also improved. Expanding by 47 basis points on 9.38% and 0.72% increase in the value of shares of Conoil and Oando. The industrial index added 21 basis points as stocks of Cutix, Wapco and Cap gained 9.60%, 2.73% and 2.28%, respectively.
However, the banking index lost 28 basis points on a 1.59% decline in Union Bank of Nigeria and 0.61% depreciation in Zenith Bank despite Unity Bank, Sterling Bank, Jaiz Bank and Ecobank appreciating in value.
The market value of all listed equities appreciated by N512 billion to N27.981 trillion, up from N27.460 trillion recorded on Friday. The NGX All-Share Index rose by 1.90% to 51,902.48 index points. On the same day, US Nasdaq dropped −521.41 points or
Year-to-date, the NGX All-Share Index has appreciated by 21.50% while Dow Jones and Nasdaq have lost
In the last three trading sessions, Apple stock led the decline with a $200 billion depreciation in its market capitalisation. Facebook, Amazon and others contributed to the $1 trillion tech rout.
A total of 37 stocks appreciated in Nigeria, against 21 stocks that lost points. See the details of top gainers and losers below.
Top Gainers
| Symbols | Last Close | Current | Change | %Change |
|---|---|---|---|---|
| NB | N 70.00 | N 77.00 | 7.00 | 10.00 % |
| CADBURY | N 13.55 | N 14.90 | 1.35 | 9.96 % |
| ROYALEX | N 1.01 | N 1.11 | 0.10 | 9.90 % |
| CHAMPION | N 3.34 | N 3.67 | 0.33 | 9.88 % |
| INTBREW | N 6.75 | N 7.40 | 0.65 | 9.63 % |
Top Losers
| Symbols | Last Close | Current | Change | %Change |
|---|---|---|---|---|
| TRANSCOHOT | N 4.50 | N 4.05 | -0.45 | -10.00 % |
| GUINNESS | N 110.00 | N 99.45 | -10.55 | -9.59 % |
| MULTIVERSE | N 0.22 | N 0.20 | -0.02 | -9.09 % |
| WAPIC | N 0.45 | N 0.42 | -0.03 | -6.67 % |
| SUNUASSUR | N 0.33 | N 0.31 | -0.02 | -6.06 % |
Top Trades
| Symbols | Volume | Value |
|---|---|---|
| TRANSCORP | 37756876.00 | 45004809.10 |
| GTCO | 24757335.00 | 580629679.05 |
| ZENITHBANK | 21199621.00 | 521668661.90 |
| ACCESSCORP | 19347531.00 | 185445343.55 |
| FBNH | 15849807.00 | 190263742.25 |