Sunday, January 23, 2022

    Investors’ Wealth Falls by ₦12Billion as Sell-Off Persist

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    Naija247news Editorial Team
    Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

    Investors in the Nigeria equities market sustained the previous day’s negative sentiment as the market capitalization declined by ₦12 billion following the price depreciation in some medium and high capitalized stocks.

    In that regard, the market index (All-Share Index) dipped by 22.89 basis points, representing a decline of 0.05 percent to close at 43,248.05.

    While the Market Capitalization lost ₦11.94Bn, representing a decrease of 0.05 percent to close at ₦22.57 trillion.

    → However, the market activities were bullish as the Total Volume and Value traded rose by 5.53 percent and 57.16 percent, respectively.

    A total of 224.91 million units valued at ₦3.71 billion were transacted in 4,331 Deals.

    ACCESS topped the traded stocks in terms of volume, accounting for 18.81 percent of the total volume of trades, followed closely by ZENITHBANK (17.38%), FBNH (7.54%), GTCO (7.44%), and AIICO (5.73%) to complete the top five on the volume chart.

    ZENITHBANK appeared as the most traded stock in value terms, with 25.23 percent of the total value of trades on the exchange.

    → AIICO appeared as the most profitable stock to sustained the previous day’s position, leading the gainers’ chart with a price appreciation of 9.21 percent, followed by ACCESS (4.40%), ETI (3.73%), FCMB (3.33%), AFRIPRUD (2.36%), TRANSCORP (1.04%), UBA (0.63%), FBNH (0.42%) and three (3) others.

    On the contrary, 24 stocks remain depreciated in price topped by UPDCREIT with price depreciation of 9.89 percent to close at ₦4.10, as CHAMS (-9.09%), OANDO (-2.04%), UCAP (-1.53%), GTCO (-1.40%), HONYFLOUR (-1.25%), DANGSUGAR (-1.22%), ZENITHBANK (-1.03%), WAPCO (-0.60%) and FLOURMILL (-0.51%) also dipped in price.

    In that regard, the market breadth closed largely negative, recording 11 gainers and 24 losers.

    → Consequently, the sector performance was relatively negative, as three of the five major sectors closed negatively, led by Oil & Gas (-0.40%), Consumer Goods (-0.21%) and Industrial Goods (-0.04%).

    While the Insurance (1.64%) and Banking (0.26%) sectors grew compared to the previous session.

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