Nigerian Exchange Limited
Stock Investors Jump on Bank Stocks as Airtel Shed N507.350 Billion on Thursday
The Nigerian stock market recorded its first decline in 2023 on Thursday as Airtel Africa, the most capitalised company on the Nigerian Exchange Limited (NGX) lost 8.26% or N507.350 billion in market value.
Airtel Africa opened the day at N1635 a share with a N6.145 trillion market value but quickly dropped to N1500 a unit after a total of 198,659 shares were traded. This brings Airtel Africa’s market value to N5.637 trillion.
Activity level declined on Thursday as investors transacted a total of 138.716 million shares worth N1.828 billion, against a total of 265,725,890 shares worth N13.529 billion that exchanged hands in 4,156 deals on Wednesday.
A sectorial analysis showed that three of the four sectors closed in the green with the banking index rising by 88 basis points (bps) on the back of a 2.27% improvement in the value of Ecobank, a 1.87% gain in Zenith Bank and a 1.82% in Unity Bank.
Sterling Bank, UBA and Fidelity Bank closed in the red.
Similarly, the consumer goods index appreciated by 133 bps despite the negative close of Intbrew and Champion. The index was sustained by a 9.95% gain in Honey Flour, 4.21% in NB, 2.05% in Bua Foods and 0.41% in Cadbury.
Oil and Gas expanded by 9 basis points as Eterna closed higher at 2.56% while the industrial index closed flat.
NGX All-Share Index declined by 1.53% to 50,868.52 index points. The market capitalisation of all the listed stocks declined from N28.136 trillion it settled on Wednesday to close at N27.707 trillion on Thursday. See other details below.
Top Five Gainers
| Symbols | Last Close | Current | Change | %Change |
|---|---|---|---|---|
| JOHNHOLT | N 0.80 | N 0.88 | 0.08 | 10.00 % |
| HONYFLOUR | N 2.21 | N 2.43 | 0.22 | 9.95 % |
| CWG | N 0.92 | N 1.01 | 0.09 | 9.78 % |
| UACN | N 10.25 | N 10.75 | 0.50 | 4.88 % |
| NB | N 45.10 | N 47.00 | 1.90 | 4.21 % |
Top Five Losers
| Symbols | Last Close | Current | Change | %Change |
|---|---|---|---|---|
| PRESTIGE | N 0.46 | N 0.42 | -0.04 | -8.70 % |
| AIRTELAFRI | N 1635.00 | N 1500.00 | -135.00 | -8.26 % |
| UPL | N 1.90 | N 1.76 | -0.14 | -7.37 % |
| NPFMCRFBK | N 1.69 | N 1.57 | -0.12 | -7.10 % |
| ROYALEX | N 1.10 | N 1.03 | -0.07 | -6.36 % |
Top Five Trades
| Symbols | Volume | Value |
|---|---|---|
| STERLNBANK | 29154292.00 | 41014111.47 |
| GTCO | 19945746.00 | 477768332.10 |
| ACCESSCORP | 11347840.00 | 99855158.75 |
| FBNH | 10993699.00 | 120967017.40 |
| ZENITHBANK | 6245860.00 | 152138255.60 |