The Nigerian Exchange Limited, NGX, kicked off the week’s trading activities on a negative note as the benchmark index registered a 0.33% decline, signaling a cautious start for investors.
Market Performance
The market capitalisation experienced a dip of ₦130bn, closing at ₦38,795trn from ₦38,925trn, while the All-Share Index also declined by 236.57 basis points to close at 70,612.81 basis points from 70,849.38 basis points.
Notable Movements
The decline observed on Monday was driven by profit taking activities in BUA CEMENT PLC (-7.76%), ACCESS HOLDINGS PLC (-0.29%), and INTERNATIONAL BREWERIES PLC (-1.11%) shares. Conversely, gains were seen in MTN NIGERIA COMMUNICATIONS PLC (+2.56%), ZENITH BANK PLC (+1.36%), and GUARANTY TRUST HOLDING COMPANY PLC (+0.84%).
Market Analysis
A detailed analysis of today’s market activities revealed a 39.35% increase in the value of transactions, while the total volume traded decreased by 14.8%. This resulted in a total of 474.39m units of shares valued at ₦7.75bn being exchanged in 7,630 deals. FIDELITY BANK PLC emerged as the most traded stock by volume at 94.05 million units of shares, with MTN NIGERIA COMMUNICATIONS PLC leading as the most traded stock by value at ₦2.23 billion.
Market Sentiment
The market sentiment, measured by market breadth, exhibited positivity as 26 stocks advanced relative to 18 decliners. Notable gainers included ALUMINIUM EXTRUSION IND. PLC (+10.00%) and R T BRISCOE PLC (+10.00%), while JAPAUL GOLD & VENTURES PLC (-9.09%) and BUA CEMENT PLC (-7.76%) topped the list of decliners.
Sectoral Performance
Sectoral performance painted a mixed picture, with the Industrial Goods (-3.3%), Insurance (-0.1%), and Consumer Goods (-0.1%) indices registering losses, and the Oil & Gas index closing flat. The Banking (+0.4%) index emerged as the sole gainer for the day, displaying resilience amid the market fluctuations.
Keyword: NGX, Benchmark Index, Nigerian Exchange Limited, market capitalisation, All-Share Index, profit taking, market breadth, sectoral performance, investors, market sentiment, trading activities.
