BUA Cement Leads Losers Table as NGX Bearish Run Continues
Activities on the floor of the Nigeria Stock Exchange (NGX) Tuesday shows that BUA Cement led the loser table, while others such as Sterling Financial Holding Company, Consolidated Hallmark Holdings, UPDC, and The Initiates followed suit.
The equity market lost N849bn underpinned on a 10 percent dip in BUA Cement, Sterling Financial Holding Company (-9.85 percent), Consolidated Hallmark Holdings (-10 percent), real estate firm, UPDC and The Initiates (-9.79 percent each).
This indicates an NGX bearish run, declining by 1.5% to close at 102,108.05 points, down by 1,551.76 points from yesterday’s 103,659.81 points.
The market breadth was negative as only 14 stocks recorded gains while 46 stocks recorded losses, even as BUA Cement was the biggest loser during the day with a 10% loss.
Similar to the ASI, there was an N850 billion decline in equities as the market capitalization declined to N55.87 trillion, from yesterday’s N56.72 trillion.
In terms of trading volume, there was a 41.2% decline in trading volume to 494.19 million units, from yesterday’s 841.55 million units. Concerning trading value, there was a 61% decline to N7.6 billion from yesterday’s N19.33 billion.
JAIZ Bank led the charts in terms of volume of trade with 90,78 million units worth N226.98m traded in 433 deals, followed by Universal Insurance with 40.40 million units valued at N16.64m exchanged in 186 trades.
While Meyer Plc, Daar Communications, industrial goods company, Cap Plc, gained 9.94 per cent, 9.09 per cent and 4.58 per cent to close at N5.20, N0.84 and N25.10 per unit, and Guaranty Trust Holding Company Plc, FBN Holdings had 32.95 million and 27.54 million units of their stocks valued at N1.32bn and N27.54m traded in 418 and 385 deals.
In the past few weeks, analysts had projected a pull-back in the capital market following the bullish rally in the market.
Market Indices
NGX All-Share Index: 102,108.05 points
% Day Change: -1.50%
Day’s Lowest: 102,033.20 points
Day’s Highest: 103,784.49 points
% YTD: +36.56%
Market Cap: N55.87 trillion
Volume Traded: 491.19 million units
Value Traded: N7.6 billion
Top Gainers
CADBURY: +10.00% to close at N24.20
JULI: +10.00% to close at N0.77
MEYER: +9.94% to close at N5.20
DAARCOMM: +9.09% to close at N0.84
CAP: +4.58% to close at N25.10
FIDELITYBK: +3.45% to close at N12.00
Top Losers
BUACEMENT: -10.00% to close at N166.50
CONHALLPLC: -10.00% to close at N1.53
STERLINGNG: -9.85% to close at N5.86
TIP: -9.79% to close at N2.12
UPDC: -9.79% to close at N1.75
JAPAULGOLD: -9.77% to close at N2.77
Top Traded Stocks
In terms of trading volume, JAIZBANK (-2.62%) led with 90.78 million units, followed by UNIVINSURE (-7.14%) with 40.40 million units, JAPAULGOLD (-9.77%) with 33.61 million units, GTCO (-1.48%) with 32.95 million units, and FBNH (-2.31%) with 27.54 million units.
Concerning value, GTCO (-1.48%) led with N1.32 billion, followed by FBNH (-2.31%) with N702.46 million, MTNN (+0.36%) with N665.30 million, UBA (-5.70%) with N552.55 million, and ZENITHBANK (-3.10%) with N540.74 million.
