NGX market capitalization drops by N81bn as investors exit positions

The Nigerian Exchange market capitalisation reduced by more than N81 billion on Wednesday as investors exited positions in some listed stocks. The local bourse ended the trading session on a bearish note on Wednesday, with data showing that key market performance indicators declined by 0.12% each. Despite a positive market breadth, the overall market sentiment was weighed down by sell pressure in some key stocks, such as CADBURY, DANGSUGAR, GTCO, and others. The downward movement reflected cautious investor sentiment amid lingering uncertainty.  This marks the second consecutive session of losses, with a cumulative decline of ₦196 billion in investors’ wealth recorded over the last two trading days.
The Nigerian Exchange All-Share Index decreased by 130.33 basis points, representing a drop of 0.12% to close at 105,800.85. Stockbrokers reported that market activities were down, as the total volume and total value of all trades dropped by 46.39% and 63.85%, respectively. In its note, Atlass Portfolios Limited told investors that approximately 393.00 million units valued at ₦12,755.90 million were transacted across 17,519 deals.
In terms of volume, UBA led the activity chart, accounting for 9.92% of the total volume of all trades consummated in the Nigerian bourse, followed by WEMABANK (6.79%), FIDELITYBK (6.48%), ACCESSCORP (6.39%), and ZENITHBANK (5.29%).
MTNN emerged as the most traded stock in value terms, accounting for 28.31% of the total value of trades on the exchange. UPL and VITAFOAM topped the advancers’ chart with a price appreciation of 10.00 percent each, trailed by LIVESTOCK (+9.97%), CILEASING (+9.89%), MCNICHOLS (+9.88%), LINKASSURE (+9.84%), WEMABANK (+9.82%), and thirty-two others. Twenty-five stocks depreciated, according to data from the Nigerian market. ETI and INTBREW were the top losers, with a price depreciation of -10.00% each.
Other decliners include CADBURY (-9.80%), DANGSUGAR (-5.77%), AFRIPRUD (-4.49%), GTCO (-3.54%), and VERITASKAP (-0.89%). At the close of the trading session on Wednesday, the market breadth closed positive, recording 39 gainers and 25 losers. In addition, the market sectoral performance was positive, as three of the five major market sectors were up. The insurance sector advanced by 0.87%, followed by the oil & gas sector, which gained 0.04%, and the industrial sector climbed by 0.01%. The consumer goods and banking sectors both recorded a loss of 1.98% and 1.46%, respectively. Overall, the equities market capitalisation of the Nigerian Exchange lost ₦81.29 billion to close at ₦66.50 trillion.