NGX Index down by 0.09%, as market capitalization dips N21bn


By Philemon Adedeji

Trading activities on the Nigerian Exchange Limited (NGX), yesterday the bears constituted the domestic bourse as the NGX All-Share Index (ASI) dropped by 39.22 basis points or 0.09 per cent to close at 44,011.22  index points from 44,050.44 index points it closed trade on Wednesday.

The market’s weak performance was primarily driven by selloffs in Tier-1 banks, Zenith Bank (-2.29 per cent), Guaranty Trust Holding Company (-1.55 per cent) and Accesscorp (-0.60 per cent). Nevertheless, the market remains on track for another weekly loss.

Specifically, the ASI’s year-to-date (YTD) return fell to 3.03 per cent and the market capitalisation value dipped by N21.37 billion to close at N23.97 trillion.

Analysis of yesterday’s market activities revealed trade turnover close lower relative to the previous session, with the value of transactions down by 70.36 per cent.

A total of 97.70 million shares valued at N847.88 million were exchanged in 2,980 deals. Transcorp plc led the volume chart with 10.65 million units traded while GTCO (-1.55 per cent) led the value chart in deals worth N134.00 million.

Market breadth closed negative at a 1.5-to-1 ratio with declining issues outnumbering advancing ones. Unilever Plc led eleven (11) others on the leaders table while, Guinness Nigeria topped seventeen (17) others on the laggard’s table.

At the close of trade yesterday,Unilever Plc emerged as the highest price gainer by 10.00 per cent to close at N11.00 per share as Stanbic IBTC which followed rose by 9.09 per cent to close at N30.00 per share, while UPL which recorded as the last third gainer appreciated by 8.93 per cent to close at N1.83 per share.Sovereign Insurance went up by 8.33 per cent to close at N0.26 per share.

Royalex Exchange which recorded as the last fifth gainer appreciated by 6.85 per cent to close at N0.78 per share.

However, Guinness Nigeria  recorded as the highest loser yesterday with 9.97 per cent to close at N60.50 per share followed by SCOA which lost 9.79 per cent to close at N1.29 per share while Abstrans which recorded as the last third loser dipped by 8.00 per cent to close at N0.23 per share.

UCAP which recorded as the last fourth loser depreciated by 5.83 per cent to close at N11.30 per share and Oando Plc which recorded as the last fifth loser dropped by 5.70 per cent to close at N3.60 per share.

Transaction in the shares of Transcorp topped the activities chart with 10.654 million share valued at 11.582 million followed by Accesscorp Plc which transacted 8.092 million shares worth 68.742 million, While Sterling Bank traded 7.415 million shares valued at N10.431 million.

Guaranty Trust Holding Company transacted 6.997 million shares worth N134.003 million.

Nigeria Aviation Handling Company accounted 6.994 million shares.