NGX Market Capitalisation Shed N408.8 Billion on Thursday Trading Session

The Nigerian stock market continued negatively following a loss of N480.8 billion as investors continued profit-taking in six (6) Tier-1 banks and 48 other firms. 

Market capitalisation was down by N480.88 billion or 0.86% to close at N55.390 trillion yesterday from N55.871 trillion when the stock market opened for trading.  

The NGX All-Share Index (NGX ASI) dropped by 878.64 basis points or 0.86% to 101,227.67basis points from 102,106.31 basis points when the stock market closed the previous day which led the stock market Year-till-Date to 35.38%.

The NGX Insurance Index was down by 4.2%, the NGX Banking Index dipped by 2.3%, and NGX Consumer Goods decreased by 1.9%, as NGX Oil & Gas and NGX Industrial Goods declined by 0.5% and 0.3%, respectively. 

Market breadth was negative as seven stocks gained, while 53 declined.

Top Gainers: Meyer led the chart with 9.97% to close at N6.29 per share. Juli followed with 9.52% to close at 92 kobo, while Tantalizer closed with 4.76% at 44 kobo per share. Red Star Express gained 4.05% to close at N3.85, while Lasaco Assurance rose by 3.54%  to close at N2.63 per share. 

Top Losers: NASCON Allied Industries, Unity Bank, Consolidated Hallmark Holdings and Sterling Financial Holdings Company led the chart with 10%  each to close at N58.50, N2.52, N1.44 and N5.31, respectively, per share. Eterna followed with a decline of 9.95% to close at N19.90, while PZ Cussons Nigeria lost 9.91% to close at N30.90 per share.

Banks: Zenith Bank Plc declined by 2.17% to N36.00 per share, United Bank for Africa (UBA) followed with 2.58% to close at N24.50 per share, and Access Corporation dropped by 3.58% to N24.25 per share.

From the analysis, the total volume traded increased by 39.91% to 478.381 million units, valued at N7.172 billion, and exchanged in 10,957 deals. 

Transactions in the shares of Universal Insurance topped the activity chart with 42.766 million shares valued at N16.094 million. 

Transnational Corporations (Transcorp) followed with 41.536 million shares worth N528.073 million, while Zenith Bank traded 31.746 million shares valued at N1.123 billion.

UBA traded 31.377 million shares valued at N741.7 million, while Access Holdings transacted 31.213 million shares worth N729.398 million.

Wednesday Trading Session

On Wednesday, investors at the Nigerian Exchange Limited (NGX) lost N1 Billion as the market was bearish, leading the market capitalisation to N55.87 Trillion. The NGX All-Share Index declined by 0.002% to 102,106.31 points.

Market breadth, a measure of investors' sentiments, remained negative, revealing that 19 stocks gained while 36 lost.

On the winning end, Meyer Plc led with a 10% appreciation to close trading at N5.72; Tripple G gained 9.84% to close at N4.13; and Juli Plc's shares appreciated by 9.09% to close at N0.84.

On the losing end, AIICO Plc declined by 9.92% to close at N1.18; Cadbury Nigeria Plc followed with a decline of  9.50% to N21.90; and Guinea Insurance Plc declined by 8.93% to N0.51.