NGX Opens Week Bearish as Equities Shed N169 Billion

The Nigerian Exchange Limited (NGX) resumed activities for the week on a sour note as investors took profit off stocks following the previous positive closes in three consecutive sessions.

Particularly, investors of MTN Nigeria cashed out on profit-booking, leading the shares of the largest telecoms company in the country to fall by -3%.

Generally, the All-Share Index (ASI) settled lower by 0.6% at 53,772.35 index points while market capitalization of the equity market lost N169 billion to close at N28.989 trillion.

Accordingly, the Month-to-Date (MtD) and Year-to-Date (YtD) returns moderated to +8.3% and 25.9% respectively.

Analysis of Monday’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions increasing by a whooping 3,420.76%.

Specifically, a total of 27.56m shares valued at ₦194.36 billion were exchanged in 4,586 deals. Union Bank of Nigeria led the volume with 27.33 million units and value chart in deals worth ₦191.36 billion.

Meanwhile, performance across sectors was mixed, as the Banking, Consumer Goods and Industrial Goods indices lost -0.3%, -0.1% and -0.1% respectively while Insurance index gained +0.7%, and Oil & Gas advanced by +0.1%.

However, as measured by market breadth, market sentiment was positive with the emergence of 23 gainers relative to 17 losers.

NGX Top ASI gainers

• TRANSEXPR up +9.86% to close at N0.78
• NPFMCRKBK up +9.76% to close at N1.80
• UACN up +9.52% to close at N11.50
• JAIZBANK up +8.97% to close at N0.85
• LIVESTOCK up +6.67% to close at N1.60

NGX Top ASI losers

• PRESCO down – 10.00% to close at N162.00
• UPL down – 8.77% to close at N2.60
• FTNCOCOA down – 8.57% to close at N0.32
• MAYBAKER down – 7.60% to close at N4.01
• WEMABANK down – 6.85% to close at N3.40

Top 3 by Volume

• TRANSCORP – 70,067,271
• ACCESSCORP – 21,248,852
• JAIZBANK – 16,266,479

Top 3 by Value

• NESTLE – N821,853,333.00
• MTNN – N526,465,875.80
• ACCESSCORP – N212,351,006.15