Monday, January 17, 2022

NGX opens week with N20 billion loss

The negative performance of the market was driven by price depreciation in large and medium capitalised stocks.

• November 29, 2021
NGX building used to illustrate the story

Trading in the domestic equities market started the week on Monday with negative sentiments following sell pressure in Presco and 20 other stocks.

Specifically, the market capitalisation which opened at N22.598 trillion lost N20 billion or 0.09 per cent to close at N22.578 trillion.

Also, the All-Share Index lost 37.31 points or 0.09 per cent to close at 43,270.94 from 43,308.25 posted on Friday.

Accordingly, the month-to-date and year-to-date gains moderated to 2.9 per cent and 7.5 per cent, respectively.

The negative performance of the market was driven by price depreciation in large and medium capitalised stocks which are: Presco, UPDC Real Estate Investment Trust, International Breweries, Zenith Bank and Oando.

Analysts at Afrinvest Ltd. anticipated a mixed market performance in the next trading session due to the weak investor sentiment.

The market closed negative with 21 laggards against 14 gainers.

UACN Property Development Company led the losers’ chart in percentage terms by 9.92 per cent to close at N1.18 per share.

UPDC Real Estate Investment Trust followed with 9.90 per cent to close at N4.55, while Consolidated Hallmark Insurance lost 7.27 per cent to close at 51k per share.

Regency Alliance Insurance dipped 4.76 per cent to close at 40k per share.

Wapic Insurance and International Breweries shed four per cent each to close at 48k and N4.80 per share respectively.

On the other hand, AIICO dominated the gainers’ chart in percentage terms with 8.57 per cent to close at 76k per share.

LivingTrust Mortgage Bank followed with 7.95 per cent to close at 95k, while Veritas Kapital Assurance went up by 4.76 per cent to close at 22k per share.

Associated Bus Company rose by 3.03 per cent to close at 34k, while Courteville Business Solutions gained 2.56 per cent to close at 40k per share.

Similarly, the total volume of trades declined by 30.2 per cent to 213.13 million units valued at N2.36 billion exchanged in 4,105 deals.

This was in contrast with a turnover of 305.32 million shares worth N3.58 billion traded in 4,450 deals on Friday.

Transactions in the shares of FCMB Group topped the activity chart with 58.45 million shares valued at N179.92 million.

AIICO Insurance followed with 13.51 million shares worth N10.39 million, while Zenith Bank traded 12.78 million shares valued at N308.69 million.

Guaranty Trust Holding Company (GTCO) traded 12.39 million shares valued at N309.67 million, while Access Bank transacted 10.90 million shares worth N98.52 million.


More from Peoples Gazette

Matawalle and Bandits


Zamfara community storms govt house over persistent attacks despite paying over N200 million ransom

Mr Abdullahi said the community had suffered more than 13 attacks, lost more than 50 persons and have spent over N200 million in the last two years as ransom.

Liverpool Vs Brentford


Liverpool thrash Brentford, displace Chelsea from second spot on EPL log

Liverpool are now second on the EPL log with 45 points in 21 games, displacing Chelsea who had 43 points in 22 games so far.

Bola Tinubu and President Muhammadu Buhari


Buhari should use necessary means to crush bandits, says Tinubu

The APC chieftain, who is aspiring to become Nigeria’s president in 2023, has revved up visitations to politicians in the name of sympathy.

Dopemu Road


Lagos to close Babajide Sanwo-Olu Road for repairs; announces traffic diversions

The traffic diversions and road rehabilitation would last for three months, Lagos transport commissioner said.

Jigawa CP, Aliyu Sale and Bandits


Bandits abduct 15 villagers in Niger; police beg for search tips

Police spokesman in the state, Wasiu Abiodun, in a statement in Minna on Sunday, said the victims were abducted at about 02:00 a.m. on Friday.

A chaotic cable connection


South-East customers bypassing meters, stealing energy too much: EEDC

EEDC warned that if electricity theft was not abated, energy services in the region would be jeopardised.