NGX Market Capitalisation Down by N62 Billion

Local stocks yesterday at the Nigerian Stock Exchange (NGX) sustained a bearish end as losses were attributed to investors' profit-taking activities. This led to a decline in prices at MTN Nigeria Communications and 22 other companies, bringing market capitalisation down to N62 billion.

The Nigerian Exchange Limited All-Share Index (NGX ASI) dropped by 110.03 basis points or 0.11%, to close at 104,553.31 basis points from 104,663.34 basis points. Market capitalisation lost N62 billion to close at N59.116 trillion from N59.178 trillion when the stock market opened for trading.

Market breadth closed positive, as 27 stocks gained relative to 23 losers. 

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Top Gainers: International Energy Insurance led the chart with a 10% gain to close at N1.32 per share. International Breweries followed with a 9.89% gain to close at N4.89, while Juli increased by 9.85% to close at N5.91 per share. NEM Insurance increased by 9.59% to close at N8.00, while FBN Holding (FBNH) added 9.06% to close at N43.95 per share.

Top Losers: DAAR Communications led with 9.86% to close at 64 kobo per share. CWG followed with a decline of 9.09% to close at N5.50, while Sovereign Trust Insurance shed 8.51% to close at 43 kobo per share. UPDC Real Estate Investment Trust depreciated by 6.36% to close at N5.15, while Fidson Healthcare was down by 6.25% to close at N15.00 per share.

The total volume traded rose by 6.82% to 307.047 million units, valued at N7.594 billion, and exchanged in 9,548 deals. Transactions in the shares of FBNH led the activity, with 37.807 million shares worth N1.573 billion. United Bank for Africa (UBA) followed with 36.855 million shares valued at N954.382 million, while Access Holdings traded 28.087 million shares valued at N649.273 million.

Transnational Corporation (Transcorp) traded 21.573 million shares worth N322.628 million, while Fidelity Bank traded 19.814 million shares worth N200.457 million.

How Was Trading on Monday?

The Nigerian Stock Exchange (NGX) saw a decline of N238.55 billion to begin the new week as investors' profit-taking activities led to the decline of prices of MTN Nigeria Communication Plc and 26 others, which caused a slide in market capitalization.

The NGX All-Share Index declined by 0.4% to close at 104,663.34 basis points, as the month-to-date and year-to-date returns moderated to +4.7% and +40%, respectively.

The next market capitalisation dropped by N238 billion to close at N59.178 trillion from N59.416 trillion when the market opened for trading.

Top Gainers: Associated Bus Company led the chart with a gain of 9.86% to close at 78 kobo per share. NEM Insurance followed with an increase of 9.77% to close at N7.30, while Livestock Feeds advanced by 9.68% to close at N1.70 per share. Nigerian Exchange Group followed with a gain of 9.55% to close at N24.10, while Thomas Wyatt Nigeria appreciated by 9.34% to close at N1.99 per share. 

Top Losers: McNichols led the chart with 9.30%, closing at N1.17 per share. DAAR Communications followed with a decline of 8.97%, closing at 71 kobo, while UPDC shed 7.89%, closing at N1.40 per share. MTNN lost 7.58%, closing at N247.50, while Regency Alliance Insurance depreciated by 5.13%, closing at 37 kobo per share.