The Nigerian Stock Exchange (NGX) witnessed notable movements today with TotalEnergies Marketing and Presco leading the gains, but the overall market suffered due to a significant loss by MTN Nigeria.
Market Highlights:
– **TotalEnergies Marketing and Presco** both experienced substantial gains, with their stocks rising by 9.98% and 9.97% respectively. TotalEnergies’ share price reached N388.90, while Presco’s climbed to N323.20.
– Despite these positive performances, the market could not overcome the negative impact of MTN Nigeria, which saw its stock drop by 4.04%, resulting in a N195.3 billion equity loss.
Impact on Market Indices:
– The decline in MTN Nigeria’s stock brought its market capitalization down from N4.83 trillion to N4.63 trillion.
– Consequently, the NGX All-Share Index fell by 0.16%, closing at 99,630.51 points, a drop of 163.20 points from the previous day’s 99,793.71 points.
– Market capitalization also saw a decline of 0.16%, from N56.452 trillion to N56.362 trillion.
Trading Activity:
– The number of deals decreased by 7%, from 8,657 to 8,057.
– Turnover volume dropped by 12%, from 963.541 million shares to 848.943 million shares.
**Notable Stock Performances:**
– **Fidelity Bank Plc** continued to attract significant attention, with a turnover volume of 293.180 million shares, maintaining its position as the top traded stock.
– **Nigerian Breweries Plc** saw a turnover of 101.584 million shares and a gain of 3.57%.
– **Zenith Bank** recorded a turnover volume of 74.278 million shares and a 0.57% increase in share price.
– **Ecobank Transnational** faced sell pressure, declining by 2.47% with a turnover volume of 62.457 million shares.
– **Access Holdings** gained 1.85% with a turnover volume of 51.901 million shares.
Top Gainers and Losers:
– **Top Gainers**: TotalEnergies (9.98% gain), Presco Plc (9.97% gain), UPDC (9.62% gain), FTN Cocoa Processors (9.65% gain), Chams HoldCo (9.47% gain), and Linkage Assurance (9.09% gain).
– **Top Losers**: NASCON (9.09% loss), Thomas Wyatt (9.66% loss), May and Baker (7.13% loss), C&I Leasing (6.67% loss), Consolidated Hallmark (4.17% loss), and MTN Nigeria (4.04% loss).
SWOOTs and FUGAZ Update:
– Among the SWOOTs (Significant Weight On Other Trades) stocks, Zenith Bank, GTCO, and Seplat posted gains of 0.57%, 2.63%, and 0.26% respectively. However, MTN Nigeria recorded a 4.04% loss.
– Other SWOOTs members, such as Airtel Africa, BUA Cement, BUA Foods, Geregu Power, Transcorp Power, and Dangote Cement, showed no price changes.
– The top-tier banking stocks (FUGAZ) saw mixed results: FBN Holdings posted a 0.43% loss, while UBA, GTCO, Access Holdings, and Zenith Bank experienced gains of 0.23%, 2.63%, 1.85%, and 0.57% respectively.
The overall market sentiment was mixed, with significant gains in certain stocks unable to offset the heavy losses incurred by MTN Nigeria, highlighting the volatility and challenges within the Nigerian stock market.
