Nigerian Exchange Slips 0.25% to Open Week Bearish

By Dipo Olowookere

The Nigerian Exchange (NGX) Limited slipped by 0.25 per cent on Monday, amid cautious trading as investors monitor their exposure to high-risk investments.

During the session, the activity level was mixed, with the trading volume up by 25.90 per cent to 405.4 million shares from the 322.0 million shares recorded in the preceding trading day, and the number of deals rising by 40.11 per cent to 52,977 deals from 37,810 deals. The trading value, however, decreased by 2.93 per cent to N19.9 billion from N20.5 billion.

Access Holdings led the activity log after it transacted 33.3 million units worth N956.0 million. Zenith Bank exchanged 28.0 million units for N3.6 billion, Jaiz Bank traded 27.6 million units valued at N211.4 million, Regency Alliance sold 27.2 million units worth N22.7 million, and FCMB closed with a turnover of 26.2 million units valued at N288.5 million.

Yesterday, the All-Share Index (ASI) crumbled by 627.31 points to 247,736.24 points from 248,363.55 points, and the market capitalisation depleted by N407 billion to N160.853 trillion from last Friday’s N161.260 trillion due to profit-taking.

SUNU Assurances crashed by 9.85 per cent to N2.93, CMFC dropped 9.78 per cent to close at N3.23, Oando declined by 7.55 per cent to N33.65, LivingTrust Mortgage Bank dropped 6.25 per cent to settle at N3.00, and Zichis slumped by 6.16 per cent to N16.00.

Conversely, UPDC REIT grew by 10.00 per cent to N26.40, Neimeth also appreciated by 10.00 per cent to finish at N7.70, Guinness Nigeria rose by 9.93 per cent to N423.00, Livestock Feeds improved by 9.89 per cent to N14.45, and NPF Microfinance Bank gained 9.52 per cent to quote at N4.60.

At the close of transactions, the bourse posted 26 price gainers and 31 price losers, representing a negative market breadth index and weak investor sentiment.