NGX Market Capitalization Declined by N35 Billion as Major Stocks Declined

The Nigerian Exchange Limited on Wednesday experienced a N35bn decline in market capitalization with big stocks experiencing decline. On the list were MTN Nigeria (-0.63%), Dangote Sugar (-1.64%), Lafarge Africa Plc (-1.34%), United Bank for Africa(-0.24%) and FBN Holdings (-4%) where big stocks that were highlighted to have a decline in yesterday market.

On Tuesday, the NGX All-Share Index and Market capitalization declined by 0.09% to close yesterday at 71,066.64 and N39.082 trillion that was recorded at the close of Tuesday market.

Even though the NGX experienced decline in its market capitalization and market breath inspired by investors sentiment, 36 stocks experienced gain, while 15 stocks declined.

The gainers were led by RT Briscoe, Daar Communications and Unity Bank with a 10 per cent gain respectively to close at N0.33, N0.66 and N1.54. MeCure Industries gained 9.96 per cent to close at N7.62, Multiverse gained 9.82 per cent to close at N4.81 and Secure Electronic Technology Plc which gained 9.52 per cent to close at N0.46 per unit.

Top gainers:  Gainers in yesterday's market were led by RT Briscoe, Daar Communications and Unity Bank with a 10% gain respectively to close at N0.33, N0.66 and N1.54. MeCure Industries gained 9.96% to close at N7.62, Multiverse gained 9.82%  to close at N4.81 and Secure Electronic Technology Plc which gained 9.52% to close at N0.46 per unit.

Top losers: Losers in yesterday's market was led by C&I Leasing, which lost 7.58% to close at N5.26, Prestige Assurance shed 7.55% of its share value to close trading at N0.49, International Breweries  Plc lost 5.56% to close at N4.25 per unit, UPDC Real Estate Investment Trust lost 4.60% to close at N4.15 and FBN Holdings closed at 19.20 per unit after shedding four per cent of its market value, PUNCH reports.

Additionally, sectoral performance varied as two stocks gained , two lost, and one remained as it was. Also, the Banking and Insurance posted their marginal gains which were 0.19% and 0.17%, while Consumer Goods and Industrial Goods lost 0.19% and 0.08%, while the index for Oil/Gas didn't change.

Market activity improved as total deals traded appreciated by 1.95% to 6,677 trades, while the total traded value increased by 128.85% to N7.37bn. However, the total volume traded by 12.82% to 428.44 million units.

Top trading volume was led by Veritaskap with 62.08 million units valued at N22.87 million, involving 125 trades, while MTN Nigeria was the most traded in terms of value, amounting to N2.81bn.

In the records of yesterday market, stocks driving volume and value on the stock exchange include Unity Bank with 38.66 million units of shares worth N59.41m exchanged in 223 deals, GTCO had 33.87 million units of its shares valued at N1.28bn traded in 321 exchanges and UBA’s 19.72 million units of shares worth N407.35m were traded in 331 deals.