Nigerian Exchange Sheds N48bn as Investors Eye Debt Securities

The Nigerian Exchange, NGX, shed more than N48 billion on Wednesday as investors continue to park funds into fixed interest securities assets. On Wednesday, trading activities in the stock market closed on a negative note, with key market performance indicators dropping by 0.07%.

Stockbrokers said the overall market downturn was primarily driven by sustained sell pressure in key stocks across major sectors, reflecting heightened investor caution.

Equities market persistent sell-offs over the past two trading sessions have resulted in a cumulative loss of ₦333 billion in investors’ wealth, Atlass Portfolio limited said in a note. Trading data revealed that the Nigerian Exchange All-Share Index decreased by 77.37 basis points to close at 106,090.38.

However, the market activities were up, as the total volume and total value traded in the market surged by 361.77% and 29.57% respectively.

Atlass Portfolios Limited told investors in a note that approximately 1,498.85 million units valued at ₦10,259.15 million were transacted across 11,748 deals.

In terms of volume, SOVRENINS led the activity chart, accounting for 66.15% of the total volume of trades consummated, followed by JAIZBANK (12.52%), NSLTECH (2.91%), ZENITHBANK (1.52%), and UCAP (1.22%), rounding out the top five.

MTNN emerged as the most traded stock in value terms, accounting for 26.34% of the total value of all transaction conducted on the exchange.

TANTALIZER topped the advancers’ chart with a price appreciation of 9.79 percent, trailed by NSLTECH (+9.68%), CAVERTON (+9.09%), FTNCOCOA (+6.51%), JAIZBANK (+6.04%), LINKASSURE (+5.26%) and thirteen others.

Today, thirty-one stocks depreciated, according to data from the Nigerian bourse.

Ticker: CONOIL was the top loser, with a price depreciation of -10.00%. Other decliners include BERGER (-9.81%), MULTIVERSE (-9.66%), CONHALLPLC (-6.49%), UCAP (-4.93%), and DANGSUGAR (-3.00%)

At the close of trading session, the market breadth settled on a negative note, recording 19 gainers and 31 losers.  Also, the market sectoral performance was negative, as three of the five major market sectors were down.

The Banking index was the sole-winning index today, appreciating by 0.25%, primarily on the back of renewed interest in GTCO (+2.84%).

However, the Oil & Gas (-0.56%), Consumer Goods (-0.23%) and Insurance (-0.22%) indexes depreciated as investors sold CONOIL (-10.00%), DANSUGAR (-3.00%) and CONHALLPLC (-6.49%), respectively.

Meanwhile, the Industrial Goods and Commodity indexes closed flattish. Overall, the equities market capitalisation of the Nigerian Exchange lost ₦48.45 billion to close at ₦66.44 trillion. #Nigerian Exchange Sheds N48bn as Investors Eye Debt Securities#

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