NGX index down 0.47%, as market capitalisation drops by N124.91bn

By Philemon Adedeji

Nigerian Equities Market closed on negative performance as the key market indicator depreciated further by 231.57 basis points amid increased sell pressure.

The NGX All-Share Index declined by 0.47 per cent to close at 49,190.34 basis points as against 0.05 per cent loss recorded previously to close at 49,421.91 basis points at the end of the last trading session. In Naira terms, the market capitalisation value lost N124.91 billion to close at N26.532 trillion.

The total volume traded advanced by 144.51 per cent to close at 51.88 million units valued at N590.01 million and exchanged in 2,981 deals.

NGXGROUP was the most traded stock by volume with 30.75 million units traded while NGXGROUP was also the most traded stock by value which is put at N553.54 million

Sectoral performance was broadly negative as four (4) NGX sector index closed northward, eleven (11) closed southward while three (3) closed flat. The NGX Banking Index inched up by 0.42 per cent to top the gainers chart while the NGX Industrial Index dipped by 2.30 per cent to top the losers’ chart.

At the close of trade yesterday, 9 stock constituted the gainers while 14 stocks constituted zone losers .

Thus, market breadth closed negative as the Market Breadth Index (MBI) is put at -0.07x.

Transexpr led the gainers table with 8.70 per cent to close at N0.75 per share, followed by Nem insurance which appreciated by 2.67 per cent to close at N5.39 per share, While Cutix gained 2.50 per cent to close at N2.05 per share

Academy Press which recorded as the last fourth gainer grew by 2.41 per cent to close at N1.70 per share and International Breweries went up 2.02 per cent to close at N5.05 per share

On the Other hand, Cornest recorded as the highest price loser with a dip of 10 per cent to close at N0.54 per share, followed by Multiverse and Mining Exploration depreciated by 9.90 per cent to close at N2.82 per share while Cadbury dropped by 9.62 per cent to close at N11.75 per share.

Buacement declined by 6.18 per cent to close at N50.10 per share and Guinness Nigeria diminished by 5.57 per cent to close at  N83 per share.

Transaction in the share of NGXGROUP topped the activities chart with 30.754 million share worth N553.540 million, followed by Zenith bank which transacted 24.391 million share valued at  N488.008 million while Fidelity bank traded 13.837 million shares worth N50.658 million.

First Bank Holding of Nigeria accounted 11.033 million shares worth N110.813 million and Accesscorp traded 8.228 million shares valued at N68.213 million.

NGXGROUP led the volume’s chart with 24.25 per cent contribution and closely followed by ZENITHBANK and FIDELITYBK.

NGXGROUP tops the value’s chart with 31.07 per cent contribution and closely followed by ZENITH.

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