Stock trading volume collapses 78%, investors lose 51 billion naira
Stock market activity fell on Monday, as trading volume and stock values fell 77.99% and 73.49% respectively, with investors losing 51.03 billion naira when trading was completed.
The Nigerian Exchange Limited, formerly Nigerian Stock Exchange All-Share Index, fell 0.25% to close at 38,864.33 basis points, from 38,962.28 basis points. The market capitalization of the shares also fell from N20.30tn the previous trading day to N20.25tn.
The volume of shares traded on the exchange was 139.45 million shares valued at 1.71 billion naira in 3,539 transactions, compared to 633.52 million shares valued at 6.45 billion naira in 3,228 transactions. The NGX Industrial and Insurance indices fell 1.10 percent and 2.34 percent respectively, while other sector indices rose.
Sovereign Trust Insurance Plc dominated traded stocks in terms of volume, accounting for 13.68% of total trading volume, while MTN Nigeria Plc was the most traded stock in terms of value, occupying 27.15% of value. total stock market transactions.
Market sentiment, measured by the breadth of the market, was positive, with 20 stocks appreciating while 12 companies suffered losses as trading on the NGX closed. University Press Plc led the winners with a rise of 9.80 percent to N 1.12 per share. Transcorp Hotels Plc followed closely with a gain of 9.70 percent to 5.43 N per share.
The other big winners on Friday were Courtville Business Solutions Plc (+ 9.38 percent), Oando Plc (+ 6.07 percent) and Cutix Plc (+ 5.38 percent). At the top of the losing chart was AXA Mansard Insurance Plc whose share price fell 9.94 percent to close at N 2.99 per share. Chams Plc, Sovereign Trust Insurance, Mutual Benefits Assurance and BUA Cement Plc also recorded losses which contributed to the market downturn.Copyright PUNCH.
All rights reserved. This material and any other digital content on this website may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without the express prior written permission of PUNCH.
Contact: [email protected]