Fatshimetry
Nigeria’s stock market has seen significant developments in recent days, with Nigeria Exchange Ltd’s market capitalization falling by 0.09%. (NGX), a loss of ₦49 billion to reach ₦56.126 trillion at the close. The All-Share Composite Index also recorded a decline of 0.09%, or 87 points, settling at 99,217.60 compared to the previous day when it was at 99,304.12.
This resulted in a 32.69% year-to-date (YTD) decline. Selling pressure on stocks such as Zenith Bank, United Bank For Africa (UBA), Access Corporation, Dangote Sugar, Honeywell Flour and Nigerian Breweries were the main drivers of this market decline.
Despite everything, the market trend was positive, with 27 winners against 23 losers on the Exchange floor. Among the best performers, Okomu Oil recorded a 10% rise, closing at ₦291.50 per share. John Holt followed closely with an increase of 9.79% to N3.14, while Consolidated Hallmark Holdings gained 9.43% to settle at ₦1.74 per share. Secure Electronic Technology Plc also saw a rise of 9.09%, closing at 60 kobo, followed by Regency Alliance Insurance which added 7.14% to reach 45 kobo per share.
On the other hand, Oando topped the list of losers, recording a decline of 9.75% to close at ₦12.50. UPL followed with a decline of 9.09% to close at N2.50, while Academy lost 8% to settle at N1.84 per share. Honeywell Flour also saw a 7.94% decline to close at ₦3.13, and UPDC Real Estate Investment Trust fell 7.86% to ₦1.29 per share.
An analysis of market activity shows that trading volume is down 68.09% from the previous session. Investors traded 361.57 million shares worth ₦6.16 billion in 8,511 trades, compared to 973.62 million shares worth ₦19.32 billion in 9,941 trades recorded during the previous session.
Transnational Corporation led the volume activity leaderboard with 47.51 million shares traded. GTCO followed with 37.85 million shares worth ₦1.65 billion to take the top spot by value.
In conclusion, Nigeria’s stock market activity has been turbulent in recent days, with notable fluctuations in both gains and losses. Investors remain attentive to different market dynamics, seeking to take advantage of investment opportunities in this changing and uncertain environment. The current market situation continues to arouse interest and vigilance among the country’s financial and economic players.