Nigerian Exchange Limited
Nigeria’s Stock Market Continues to Decline Following Interest Rate Increase
The Nigerian Exchange Limited (NGX) extended its decline on Wednesday after the Central Bank of Nigeria-led monetary committee raised the interest rate to 14%.
The Nigerian Exchange Limited (NGX) extended its decline on Wednesday after the Central Bank of Nigeria-led monetary committee raised the interest rate to 14%.
Investors exchanged 238,270,347 shares estimated at N3.336 billion in 3,814 deals during the trading hours of Wednesday, against 205,641,440 shares valued at N2.787 billion that exchanged hand in 4,127 transactions on Tuesday.
Living Trust was the most traded equity with 40909105 shares worth N49,090,926.00. Followed by Nigerian Breweries with 30379165 shares valued at N1,512,638,800.
Analysis of sub-indices showed the banking index declined by 41 basis points (bps) on a 3.70% decline in the value of Union Bank of Nigeria, 2.22% depreciation in Unity Bank and 0.94% drop in the value of Fidelity Bank’s shares. United Bank for Africa and FCMB closed in the green with 0.67% and 0.66%, respectively.
The consumer goods index also dipped by 13bps even with Dangote Sugar posting a 0.63% gain. The oil and gas index gained 75bps on a 5.01% increase in Oando. Also, the industrial index gained 19bps on the back of a 2.51% increase in the worth of WAPCO shares.
Market value of listed stocks depreciated to N28.142 trillion, representing a N66 billion decline from the N28.208 billion it closed on Tuesday. NGX All-Share Index declined by 0.23% to 52,186.52 index points.
The Exchange year to date moderated to 22.46% as 16 stocks gained and another 16 stocks closed in the red. See other details below.
Top Gainers
| Symbols | Last Close | Current | Change | %Change |
|---|---|---|---|---|
| CWG | N 0.81 | N 0.89 | 0.08 | 9.88 % |
| MULTIVERSE | N 1.62 | N 1.78 | 0.16 | 9.88 % |
| ACADEMY | N 1.86 | N 2.04 | 0.18 | 9.68 % |
| TIP | N 0.44 | N 0.48 | 0.04 | 9.09 % |
| RTBRISCOE | N 0.44 | N 0.48 | 0.04 | 9.09 % |
Top Losers
| Symbols | Last Close | Current | Change | %Change |
|---|---|---|---|---|
| NAHCO | N 6.00 | N 5.40 | -0.60 | -10.00 % |
| FTNCOCOA | N 0.35 | N 0.32 | -0.03 | -8.57 % |
| NB | N 53.00 | N 49.75 | -3.25 | -6.13 % |
| CHIPLC | N 0.70 | N 0.66 | -0.04 | -5.71 % |
| OANDO | N 5.45 | N 5.15 | -0.30 | -5.50 % |
Top Trades
| Symbols | Volume | Value |
|---|---|---|
| LIVINGTRUST | 40909105.00 | 49090926.00 |
| NB | 30379165.00 | 1512638800.00 |
| UBA | 26707696.00 | 198454864.10 |
| ACCESSCORP | 21902789.00 | 199093446.85 |
| FBNH | 17858547.00 | 196625341.65 |