The Nigerian Exchange (NGX) witnessed a tumultuous trading day on Monday, as investors grappled with losses amounting to N102 billion. The decline was primarily driven by First Bank of Nigeria Holdings, Seplat Energy, and Transcorp, which collectively weighed down the market.
Market Metrics
- The All-Share Index retreated by 0.18 per cent, settling at 99,118.86 basis points.
- Market Capitalization followed suit, shrinking to N56.07 trillion.
Bearish Sentiment Prevails
Bearish sentiment dominated the trading floor, with decliners outnumbering gainers. A total of 23 stocks recorded losses, while only 17 managed to eke out gains. This contrasted sharply with the bullish trend observed last week, during which investors pocketed a substantial N954 billion.
Winners and Losers
Losers:
- E-tranzact International: The payment solutions company led the losers’ chart, shedding a significant 9.82 per cent to close at N5.05.
- Unity Bank: Another casualty was Unity Bank, which lost 9.80 per cent, closing at N1.38.
- Jaiz Bank: The Islamic bank dipped by 9.65 per cent, settling at N2.06.
Gainers:
- Cornerstone Insurance Company: Bucking the trend, Cornerstone Insurance Company and Deap Capital Management and Trust posted impressive gains of 10.00 per cent each. Their stock prices reached N2.09 and N0.44, respectively.
- Oando: The energy giant Oando also fared well, gaining 9.75 per cent and closing at N12.95.
Year-to-Date Performance
The overall year-to-date return now stands at 32.6 per cent, a slight dip from the previous 32.8 per cent. Investors remain cautiously optimistic, closely monitoring market dynamics.
Trading Volume and Value
- The total volume of shares exchanged decreased by 19.5 per cent, amounting to 349.6 million units.
- Similarly, the value of transactions declined by 38.9 per cent, reaching N5.2 billion.
Sectoral Indices
- The Oil and Gas index remained unchanged, closing flat.
- However, other sectors faced headwinds:
- The Banking index fell by 0.8 per cent due to declines in First Bank of Nigeria Holdings (FBNH) and United Bank for Africa (UBA).
- Consumer and Industrial Goods indices both dipped by 0.1 per cent, reflecting sales pressure on Nigerian Brewery, WAPCO, and Julius Berger.
As the NGX grapples with volatility, investors are closely monitoring developments, hoping for a swift recovery. The market’s resilience will be tested in the coming days as economic factors continue to play out.
The Nigerian Exchange (NGX) witnessed a tumultuous trading day on Monday, as investors grappled with losses amounting to N102 billion. The decline was primarily driven by First Bank of Nigeria Holdings, Seplat Energy, and Transcorp, which collectively weighed down the market.
Market Metrics
- The All-Share Index retreated by 0.18 per cent, settling at 99,118.86 basis points.
- Market Capitalization followed suit, shrinking to N56.07 trillion.
Bearish Sentiment Prevails
Bearish sentiment dominated the trading floor, with decliners outnumbering gainers. A total of 23 stocks recorded losses, while only 17 managed to eke out gains. This contrasted sharply with the bullish trend observed last week, during which investors pocketed a substantial N954 billion.
Winners and Losers
Losers:
- E-tranzact International: The payment solutions company led the losers’ chart, shedding a significant 9.82 per cent to close at N5.05.
- Unity Bank: Another casualty was Unity Bank, which lost 9.80 per cent, closing at N1.38.
- Jaiz Bank: The Islamic bank dipped by 9.65 per cent, settling at N2.06.
Gainers:
- Cornerstone Insurance Company: Bucking the trend, Cornerstone Insurance Company and Deap Capital Management and Trust posted impressive gains of 10.00 per cent each. Their stock prices reached N2.09 and N0.44, respectively.
- Oando: The energy giant Oando also fared well, gaining 9.75 per cent and closing at N12.95.
Year-to-Date Performance
The overall year-to-date return now stands at 32.6 per cent, a slight dip from the previous 32.8 per cent. Investors remain cautiously optimistic, closely monitoring market dynamics.
Trading Volume and Value
- The total volume of shares exchanged decreased by 19.5 per cent, amounting to 349.6 million units.
- Similarly, the value of transactions declined by 38.9 per cent, reaching N5.2 billion.
Sectoral Indices
- The Oil and Gas index remained unchanged, closing flat.
- However, other sectors faced headwinds:
- The Banking index fell by 0.8 per cent due to declines in First Bank of Nigeria Holdings (FBNH) and United Bank for Africa (UBA).
- Consumer and Industrial Goods indices both dipped by 0.1 per cent, reflecting sales pressure on Nigerian Brewery, WAPCO, and Julius Berger.
As the NGX grapples with volatility, investors are closely monitoring developments, hoping for a swift recovery. The market’s resilience will be tested in the coming days as economic factors continue to play out.
