Local Bourse Extends Bearish Performance, Looses additional N58 Billion  (nairametrics.com)

Local Bourse Extends Bearish Performance, Looses additional N58 Billion 

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The Nigerian Stock Exchange (NSE) extends its bearish performance from yesterday’s trading session owing to an unfavourable market performance recorded today.

This downturn has resulted in a decline of N58 billion in market capitalization, contributing to an overall cumulative loss of N208 billion in just 2 days.  

As a result, the All-Share Index (ASI) experienced a dip of 0.17%, corroborating an overall market performance decline.

The index lost 107.39 points, settling at 64,928.98 points for the previous day’s closing of 65,036.37 points. 

Furthermore, the Year-to-Date (YtD) return for the stock market decreased to 26.69%, down from its previous closing value of 26.90%. 

 

Market Indices

 

Below are market indices for today’s trading session:  

NGX ASI: 64,928.98 points  

% Day Change: -0.17%  

% YTD: +26.69%% 

Market Cap: N35,357 trillion  

Volume Traded: 280.47 million  

Value: N4.65 billion  

Deals: 6,296 

 

How Stocks Performed 

Today’s market scene painted an intriguing picture, with TANTALIZER emerging as the star performer, boasting a remarkable 10.00% surge in its share price, closing the session at N0.44 per share. On the flip side, ETERNA’s fortunes took a different turn, experiencing the steepest decline, with a significant downturn of 9.86%. 

TRANSCORP stock dominated the day’s trading with a resounding 36.47 million shares traded, while UBA leads the value brigade with transactions worth N325.42 million. 

Additionally, there was a modest increase in investor engagement today, as number of deals rose to 6,296, indicating an increase of 397 deals from the previous count of 5,899. 

 

Top Gainers and Losers 

TANTALIZER, IKEJAHOTEL, and CORNERST were the top gainers for today, leading with an impressive share appreciation of 10.00%, 9.82%, and 9.30% respectively to close the session at N0.44, N3.13 and N1.41. 

 

Conversely, shares of ETERNA, SUNUASSUR, and OMATEK experienced the biggest drops in share prices today, losing 9.86%, 9.62%, and 8.11% respectively. 

 

Top Traded Stocks  

The market witnessed a notable improvement in the overall value of shares traded, with a commendable 10.71% increase from N4.20 billion to N4.65 billion. 

Following suit, trading volume demonstrated an upward trend, experiencing a rise of 8.27% to reach 280.47 million shares, compared to the 259.04 million shares traded during the previous trading session. 

Among the highly traded stocks, TRANSCORP stood out, leading the pack with a significant exchange of 36.47 million shares. Following closely, UBA recorded 23.24 million shares traded, while ACCESSCORP secured the third spot with 17.67 million shares exchanged. 

In an interesting twist, MTNN captured heightened investor interest today, emerging as the most actively traded stock in the market, boasting a total turnover worth N972.34 million. Following closely, STANBIC ranked second with a trade value of N477.92 million and NESTLE secured the third position with a trade value of N454.83 million. 

 

SWOOTs Watch 

in today’s trading session, SWOOT performance was mixed, as ZENITHBANK and MTNN saw an improvement in their share earnings by 0.1% albeit. 

On the contrary, shares of GTCO and UBA witnessed a marginal decline of 0.2%, while AIRTELAFRICA, BUAFOODS, and BUACEMENT exhibited stability in their stock prices, demonstrating resilience against the market fluctuations experienced by other stocks.  

 

 

 

FUGAZ Update 

ZENITHBANK stood out as the sole institution marking a positive earnings growth of 0.1%. However, a different trajectory was seen for FBNH, GTCO, UBA, and ACCESSHOLDINGS, as their shares faced a decline.  

FBNH recorded the most significant drop at 0.35%, while UBA, GTCO, and ACCESSHOLDINGS underwent slight downturns of 0.2%, albeit in a milder fashion. 

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