Equities investors lose N17bn to further sell-offs

February 22, 2021
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The domestic equities market opened the week with negative trading, following profit-taking activities on WAPCO, Fidelity Bank and United Capital.

On Monday, investors lost N17.05 billion as the market capitalisation of the Nigerian Stock Exchange (NSE) closed at N21.009 trillion as against N21.026 trillion it recorded at the end of Friday trading activities.

Thus, the All-Share Index (ASI) declined by 0.1 per cent to 40,154.09 basis points. Accordingly, the Month-to-Date and Year-to-Date losses increased to -5.3 per cent and -0.3 per cent, respectively.

As measured by market breadth, market sentiment was negative, as 25 tickers declined, relative to 19 gainers.

On the performance chart, Africa Prudential and Lasaco Insurance recorded the largest losses of the day after depreciating by 9.6 per cent and 9.5 per cent, respectively, while UPDCREIT and CHI Plc topped the gainers’ list with 9.4 per cent and 9.1 per cent respective gains.

The sectorial performance also followed the negative move as only the Banking and Oil & Gas indices recorded gains by 0.2 per cent and 0.1 per cent respective marginal gains while the Industrial Goods, Insurance, and Consumer Goods indices recorded declines by 0.6 per cent, 0.1 per cent and 0.1 per cent respectively..

Activity at the local bourse was unimpressive as the total volume traded declined by six per cent to 289.34 million units, valued at N3.57 billion, and exchanged in 4,953 deals.

FBN Holdings was the most traded stock by volume at 57.56 million units, while Guaranty Trust Bank was the most traded stock by value at N820.55 million.

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