Market sentiment dims as equity suffers N35 billion loss

The NGX All-Share Index experienced a notable dip, dropping below the 100,000 mark for the second time this week, ending at 99,845.91 points.

Market capitalization also saw a downturn, with a N35 billion decrease to N56.47 trillion, down from N56.50 trillion.

In a continued streak of losses, the Nigerian Stock Market marked its tenth day of decline this April, primarily due to the downturn in the significant financial firms of the SWOOT sector.

Despite the overall market slump, GUINNESS stood out, registering a 10% increase in share price among the day’s 16 gainers. This was in sharp contrast to UCAP, which led the day’s 19 decliners with a 9.73% drop in share price.

ACCESSCORP was the most actively traded stock by volume, while GTCO led in value traded. The market’s transaction volume fell, ending the day with 7,726 deals—a 14.86% decrease from the previous session’s 9,074 transactions.

Market Indices

NGX All-Share Index: 99,845.91 points Previous ASI: 99,908.89 points % Day Change: -0.06% Day’s Lowest: 99,792.21points Day’s Highest: 100,073.32 points % YTD: +33.53% (Previous: +33.61%) Market Cap: N56.469 trillion Volume Traded: 285.91 million units Value: N5.543 billion Deals: 7.726

Top Gainers

GUINNESS: +10% to close at N55.00 NEIMETH: +9.76% to close at N1.80 MORISON: +9.73% to close at N3.72 INTENEGINS: +9.30% to close at N1.41 REGALINS: +8.33% to close at N0.39

Top Losers

UCAP: -9.73% to close at N18.10 CONHALLPLC: -9.70% to close at N1.21 CWG: -9.52% to close at N5.70 CHAMS: -9.14% to close at N1.69 SOVRENINS: -9.09% to close at N0.44

Top Traded Stocks

In the most recent trading session, the market experienced a noticeable decline, with trading volumes decreasing by 11.39%. This led to a reduction of 36.75 million shares being traded, resulting in a total volume of about 285.91 million shares, which is significantly lower than the 322.66 million shares traded in the previous session.

ACCESSCORP led the trading volume with 43.98 million shares, followed by GTCO with 32.79 million shares. Other significant trading volumes were observed in UBA with 28.45 million shares, TRANSCORP with 23.59 million, and ZENITHBANK with 22.01 million shares.

The overall value of the trading session also decreased, falling by 4.77% to N5.543 billion, down from N5.820 billion in the previous session, marking a loss of N277.84 million.

In terms of trade values, GTCO recorded the highest with N1.14 billion, followed by ZENITHBANK with N795.98 million, ACCESSCORP with N766.17 million, GEREGU with N662.22 million, and UBA with N649.95 million.

SWOOT and FUGAZ Update

In the latest earnings report, the SWOOT group noted a discrepancy. Zenith Bank was the outlier, experiencing a slight increase of 1.69% in share price. Conversely, GTCO saw a 3.925% drop in market value.

Notably, the share prices of several companies, including AIRTELAFRICA, BUACEMENT, BUAFOODS, DANGCEMENT, GEREGU, MTNN, SEPLAT, TRANSCOHOT, and TRANSPOWER, remained stable, showing no impact from market fluctuations.

Among the prominent banks, Zenith Bank stood alone with a 1.69% rise in share value. In contrast, GTCO, Access Holdings, UBA, and FBN Holdings all reported decreases in their market values, with respective declines of 3.92%, 0.86%, 0.22%, and 0.19%.