NGX All-Share Index dips by 1.81%, as market capitalisation shed N436bn

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By Philemon Adedeji

Bearish sentiment drove the domestic bourse today as the NGX All-Share Index closed 802.5 basis points or 1.81 per cent lower to settle at 43,466.93 basis points from 44,269.43 basis points it closed for previous trading day.

Selloffs in DANGCEM (-8.33 per cent) and MTNN (-2.04 per cent) underpinned the market’s weak performance. Consequently, the year-to-date (YTD) return fell to 1.76 per cent, while the market capitalization shed N436.43 billion to close at N23.68 trillion.

Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up 16.97 per cent .A total of 249.91million shares valued at N2.50 billion were exchanged in 3,283 deals. Accesscorp led the volume and value charts with 128.73 million units traded in deals worth N1.03 billion.

Market breadth closed negative at a 1.90-to-1 ratio with declining issues outnumbering advancing ones. Guinness Nigeria topped eighteen (18) others on the laggard’s table, while Unity bank led nine (9) others on the laggard’s log.

At the close of trade yesterday, Unity bank emerged as the highest price gainer with,10 per cent increased to close at N0.44 per share followed by Jaizbank which recorded as the second best gainer grew significantly by 6.38 per cent to close at N1.00 per cent while Fidson health care rose by 5.70 per cent to close at N8.99 per share.

Geregu power which recorded as the last fourth gainer went up by 5.09 per cent to close at N122.80 per share and Champion breweries appreciated by 4.24 per cent to close at N3.44 per share.

However, Guinness Plc emerged as the highest loser on the laggards table with 9.95 per cent to close at N74.65 per share followed by Custodian which recorded as the second best loser lost 9.32 per cent to close at N5.35 per share Dangote cement went down by 8.33 per cent to close at N220.00 per share.

Courtville Business Solution dipped by 8 per cent to close at N0.46 per share and Nem Insurance depreciated by 7.50 per cent to close at N3.70 per share.

Transaction in the share of Accesscorp topped the activities chart with 128.732 million shares worth N1.034 billion, First Bank Holding of Nigeria followed with 19.491 million shares valued at N192.823 million while Transcorp plc transacted 17.352 million shares worth N18.239 million.

Fidelity Bank traded 14.900 million shares valued at N59.862 million and Guaranty Trust Holding Company accounted 14.590 million shares worth N255.819 million.