Bearish Investors dominated Friday’s trading session as The Nigerian Exchange (NGX) closed in negative territory.
The All-Share Index (ASI) traded 1.39% lower to close at 67,324.59 index points as against 68,271.14 index points recorded in the previous day’s trading session.
Likewise, the market capitalization of equities plunged by N518 billion to close at N36.847 trillion, 1.39% lower than the N37.365 trillion recorded in the previous trading session.
Market Indices
Below are the market indices for today’s trading session:
NGX ASI: 67,324.59 points
% Day Change: -1.39%
% YTD: +31.36%
Market Cap: N36.847 trillion
Volume Traded: 1.03 billion
Value: N5.82 billion
Deals: 6,370
How Stocks Performed
Market breadth closed negative as NEM (10.00%) led the gainers, OANDO (-9.89%) led the losers while UNIVINSURE was the most traded equity – by volume – at the end of today’s session.
Top Gainers and Top Losers
- NEM, LASACO and CORNERST led the top gainer’s chart as they all gained +10.00%, +9.68% and +9.60% respectively.
- Meanwhile, OANDO, DANGOTE CEMENT and IKEJA HOTEL led the top losers’ chart as they lost –9.89%, -8.49%, and –8.09% respectively.
Top Traded Stocks
- There was lower trading activity in terms of volume as 1.03 billion units of shares were traded today compared to the 1.12 billion traded from the previous day’s session.
- UNIVINSURE led the chart in terms of volume as 670.23 million units were traded. STERLING (65.17 million) and OANDO (60.09 million) rounded up the top 3 traded stocks for today.
- In terms of value traded, OANDO (N719.98 million) led the chart followed by ACCESS HOLDINGS (N561.45 million) and UBA (N427.86 million) to round up the top three.
SWOOTs Watch
- Shares of stocks worth over one trillion (swoot) saw mixed results as DANGOTE CEMENT (-8.49%) and GTCO (-0.14%) both recorded negative trading sessions as ZENITH BANK (0.15%) positive.
- Meanwhile, BUA CEMENT, BUA FOODS, SEPLAT ENERGY, MTN NIGERIA and AIRTEL AFRICA all closed flat.
FUGAZ Update
Shares of tier 1 banks had mixed trading sessions as UBA (2.65%), ACCESS HOLDINGS (2.07%) and ZENITH BANK (0.15%) all recorded positive trading sessions as GTCO (-0.14%) closed negative while FBN HOLDINGS closed flat.
The market needs to calm. It has lost touch with economic realities. The market need to connect and mirror other economic variables. The decline this week is not adequate to encourage new investors..Expect more declines as we go into Q4
The bearish session is not unexpected most especially when the First tier banks are declaring their interim dividends.
The market will continue its bullish trend after payment till early December when some holders may want to offload part of their holdings to meet up with festive period.