Equities investors lose N289bn as Transcorp, Oando dip

Equities investors lost about N289 billion on the Nigerian Exchange, NGX, as sell pressure drag Transcorp, Oando, MRS Oil and other notable listed stocks in small and mid-cap downward on Wednesday.
The Nigerian domestic market closed today’s trading session on a bearish note, reflecting a sustained negative sentiment across indexes. Year to date return moderated as the Nigerian Exchange key market performance indicators declined by 0.44%. Over the past 4-trading sessions, persistent sell-offs have led to a cumulative decline of ₦729 billion in investors’ wealth, Atlass Portfolios Limited told investors in a note. Today, the NGX All-Share Index decreased by 460.56 basis points to close at 104,915.13. However, the market activities inched higher on the day as the total volume and total value of all transaction conducted in the local bourse increased by 290.47% and 50.52% respectively.
In its market update, Atlass Portfolios Limited told investors that approximately 1,366.56 million units valued at ₦12,374.55 million were transacted across 12,012 deals. In terms of volume, SOVRENINS led the activity chart, accounting for 73.92% of the total volume of transactions conducted in the market, followed by FIDELITYBK (3.13%), ACCESSCORP (2.24%), JAIZBANK (1.75%), and ZENITHBANK (1.58%), rounding out the top five TRANSPOWER emerged as the most traded stock in value terms, accounting for 27.69% of the total value of traded stocks on the exchange on Wednesday. JBERGER topped the advancers’ chart with a price appreciation of 8.47 percent, trailed by OMATEK (+6.15%), UPDC (+2.69%), WEMABANK (+2.43%), UNILEVER (+2.12%), NB (+1.56%) and seven others.
Thirty-seven stocks depreciated, according to data obtained from the Nigerian Bourse.  LIVESTOCK was the top loser, with a price depreciation of – 10.00%. Other decliners include MRS (-8.99%), TRANSCORP (-7.84%), UNIVINSURE (-5.17%), OANDO (-4.55%), and ACCESSCORP (-3.45%) also dipped in price. The NGX market breadth closed largely negative, recording 13 gainers and 37 losers. Also, the market sectoral performance was negative, as four of the five major market sectors went down. The Insurance sector declined by 1.84%, followed by the Banking sector which declined by 1.36%.  The Oil & Gas sector fell by 1.32%, and the Consumer goods sector dipped by 0.11%. The Industrial sector closed unchanged. Overall, the equities market capitalisation of the Nigerian Exchange fell by ₦288.80 billion, representing a decline of 0.44%, to close at ₦65.79 trillion.