Nigerian Exchange Limited
Stock Market Extends Decline as Selloff Continues Following Interest Rate Hike
investors exchanged 119.8 million shares worth N2.689 billion in 3,552 transactions during the trading hours of Wednesday, against 182.3 million shares worth N4.82 billion that were transacted in 3,470 deals on Tuesday.
The Nigerian Exchange Limited (NGX) sheds another N32 billion on Wednesday after posting a N25 billion decline on Tuesday immediately after the Central Bank of Nigeria-led monetary policy committee hiked interest rate by 100 basis points from 16.5% to 17.5%.
Activity level dipped as investors exchanged 119.8 million shares worth N2.689 billion in 3,552 transactions during the trading hours of Wednesday, against 182.3 million shares worth N4.82 billion that were transacted in 3,470 deals on Tuesday.
Sectorial analysis shows the banking sector lost 34 basis points (bps) on a 2.41% decline in the value of UBA and a 0.55% dip in Accessco. Wema bank and Fidelity bank posted 1.52% and 0.60% gains, respectively.
The consumer goods sector appreciated by 34bps as the value of Unilever Nigeria jumped 7% following healthy financial results that show the company grew profit after tax by 110% to almost N1 billion in 2022. Intbrew recorded 5.38% while Honey Flour and Cadbury lost 5.15% and 2.07%, respectively.
The oil and gas sector closed flat, the same as the industrial sector.
The NGX All-Share Index depreciated by 0.02% from 52,612.55 index points closed on Tuesday to settle at 52,599.65 index points.
The market value of listed equities stood at N28.649 trillion, a N32 billion decline from N28.681 trillion it closed on Tuesday. The year-to-date return moderated to 2.63%. See top gainers and losers below.
Top Fiver Gainers
| Symbols | Last Close | Current | Change | %Change |
|---|---|---|---|---|
| RTBRISCOE | N 0.30 | N 0.33 | 0.03 | 10.00 % |
| TRIPPLEG | N 0.80 | N 0.88 | 0.08 | 10.00 % |
| CHELLARAM | N 1.50 | N 1.65 | 0.15 | 10.00 % |
| OKOMUOIL | N 165.00 | N 181.10 | 16.10 | 9.76 % |
| CAVERTON | N 0.95 | N 1.03 | 0.08 | 8.42 % |
Top Five Losers
| Symbols | Last Close | Current | Change | %Change |
|---|---|---|---|---|
| THOMASWY | N 1.45 | N 1.31 | -0.14 | -9.66 % |
| CORNERST | N 0.58 | N 0.54 | -0.04 | -6.90 % |
| GEREGU | N 142.40 | N 134.00 | -8.40 | -5.90 % |
| HONYFLOUR | N 2.33 | N 2.21 | -0.12 | -5.15 % |
| CWG | N 0.94 | N 0.90 | -0.04 | -4.26 % |
Top Five Trades
| Symbols | Volume | Value |
|---|---|---|
| MBENEFIT | 11258018.00 | 3865258.67 |
| TRANSCORP | 8751948.00 | 10605868.57 |
| GEREGU | 8536440.00 | 1143976583.90 |
| FBNH | 7690248.00 | 89815522.50 |
| GTCO | 6712639.00 | 161997631.90 |