NGX index dips by 0.07% amid N599bn market cap surge
The Nigerian Exchange (NGX), All-Share Index (ASI) yesterday experienced a slight dip, falling by 0.07 percent.
The All-Share Index declined by 64.41 percent, representing a loss of 0.07 percent, to close at 95,831.51 points. However, the overall market capitalisation value gained N599 billion to close at N55.047 trillion.
This surge in market capitalisation value was primarily driven by the supplementary listing of International Breweries’ additional rights issue, which boosted its total shares on the Exchange from 26.86 billion to 168.2 billion.
The market negative performance was driven by price depreciation in large and medium capitalised stocks which are; Oando, NASCON Allied Industries, UACN, May & Baker Nigeria and United Bank for Africa (UBA).
However, the market breadth closed positive, as 27 stocks gained relative to 18 losers. Ikeja Hotel recorded the highest price gain of 10 percent to close at N7.70, per share. R.T. Briscoe Nigeria followed with a gain of 9.76 percent to close at N2.25, while Cutix rose by 9.66 percent to close at N3.18, per share.
Tantalizer appreciated by 9.62 percent to close at 57 kobo, while Thomas Wyatt Nigeria rose by 6.96 percent to close at N1.69, per share. On the other hand, University Press led the losers’ chart by 9.40 percent to close at N2.41, per share. Oando followed with a decline of 8.66 percent to close at N39.55, while NASCON declined by 8.39 percent to close at N32.20, per share.
May & Baker Nigeria shed 5.41 percent to close at N7.00, while C&I Leasing lost 5.08 percent to close at N2.80, per share.
The total volume of trade decreased by 64.44 percent to 360.559 million units, valued at N7.252 billion, and exchanged in 8,813 deals.
Transactions in the shares of Oando topped the activity chart with 66.233 million shares valued at N2.692 billion. Guaranty Trust Holding Company (GTCO) followed with 45.749 million shares worth N2.086 billion, while Cutix transacted 29.411 million shares worth N93.060 million.
Universal Insurance traded 25.413 million shares valued at N7.817 million, while FCMB Group traded 21.231 million shares valued at N161.296 million.
