NGX: Loss in Airtel Africa drags capitalisation down by N256bn


By Philemon Adedeji

Trading activities on the Nigerian Exchange Limited (NGX) closed on negative performance, the market’s loss was primarily driven by the decline in telco heavyweight, Airtel  Africa (-6.00 per cent). The decline puts the index on track for another week of loss. Consequently, the year-to-date (YTD) return fell to 1.67 per cent, while market capitalisation shed N256.69 billion to close at N28.37 trillion.

The NGX All-Share Index (ASI) shed 471.43 basis points representing 0.90 per cent to close at 52,109.43 basis points from 52,580.86 basis points it closed trade on Wednesday.

Analysis of yesterday’s market activities revealed trade turnover settled lower relative to the previous session, with the value of transactions down by 34.77 per cent.

The trade volume decreased to 334.24 million shares valued at N5.15 billion were exchanged in 5,350 deals.

Access  Corporation (0.50 per cent) led the volume chart with 64.69 million units traded, while GTCO (0.19 per cent) led the value chart in deals worth N1.34 billion.

As measured by market breadth market sentiments closed negative as 22 stocks recorded on the gainers chart versus 27 stocks that recorded on the losers chart.

On the leaders table, Abctrans emerged as the best price gainer which appreciated by 10.00 per cent to close at N0.44 per share, MRS Oil which followed rose by 9.97 per cent to close at N40.80 per share, while NPF Microfinance grew by 9.38 per cent to close at N1.75 per share.

Courtville Business Solution which recorded as the last fourth gainer went up by 9.30 per cent to close at N0.47 per share.

On the price losers table, Academy Press led as the most price loser which dipped by 10.00 per cent to close at N1.53 per share, closely followed by Ardova Oil which suffered 9.88 per cent loss to close at N22.35 per share, while Mcnichols dropped by 9.33 per cent to close at N0.68 per share.

Honey flour which recorded as the last fourth loser went down by 8.62 per cent to close at N2.65 per cent, while Regalins Insurance which recorded as the last fifth loser depreciated by 6.25 per cent to close at N0.30 per cent.