NGX sheds N311bn as investors sentiment drops

The Nigerian Exchange ended the day trading in the red as the All Share Index (ASI) dipped  by 0.33% to close at 146,940.29 points.

Consequently, the year-to-date return  decreased  to 42.76% from the 43.24% recorded in the previous session, while the market capitalisation  also dipped by 0.33%  to settle at N93.66trn. 

This negative sentiment was driven by selloffs in stocks including OKOMUOIL (-6.49%), UACN (-9.09%),  and ETERNA (-10.00%)), which offset buying interests in stocks such as JAPAULGOLD (+.5.50%), MECURE (+8.72%),  and TIP (+4.48%).

Market activity however closed in the green, as volume surged  by 258.34% while transaction value increased by 118.18%. ETRANZACT (+0.00%) led both the volume  and value chart with 1.02bn units and N7.50bn worth of trades. 

Market breadth was positive at negative at 0.72x, indicating more losers than gainers. AUSTINLAZ (-10.00%) led the thirty-six (36) losers, while LEARNAFRICA (+9.57%) topped the twenty-six (26) gainers.market capitalisation fell by about N311 billion on Tuesday as investors sentiment weakened again.

Stockbrokers reported that market activities inched higher as the total volume of all trades and their total value rose by +258.35% and +118.18% respectively.

In a note, investment firm Atlass Portfolio Limited told investors that approximately 1,973.99 million units valued at ₦30,231.48 million were transacted across 23,038 deals. ACCESSCORP was the traded company stock, accounting for 19.46% of the trading volume, followed by CORNERST (12.30%), CONHALLPLC (8.42%), FCMB (8.28%), and JAPAULGOLD with 6.58%.

STANBIC topped value chart, accounting for 17.89% of the total value of all trades executed in the local bourse on Tuesday.  LEARNAFRICA led gainers chart, up by +9.57%, trailed by MECURE (+8.72%), DEAPCAP (+7.50%), INTENEGINS (+6.52%), RTBRISCOE (+5.96%), WAPIC (+5.66%), and fifteen others.

A total of thirty-two stocks depreciated in the local bourse. With a price depreciation of -10.00% each, both AUSTINLAZ and ETERNA topped the worst performers’ chart, followed by TRANSCOHOT (-9.95%), IKEJAHOTEL (-9.65%), UACN (-9.09%), and VERITASKAP (-6.95%).

Hence, the market breadth closed on a negative note, as there were 21 gainers and 32 losers. Sectoral performance was negative, reflecting negative sentiment across key indexes. The Insurance sector decreased by -1.53%, followed by the Industrial goods sector (-0.06%) and the Banking sector (-0.05%). Only the Oil & Gas sector increased by +0.08%, while the Consumer goods sector remained unchanged (0.00%)