Following two days of Easter vacation, the value of transactions on the Nigerian Exchange Ltd. (NGX) stock market decreased by 13.81 percent on Tuesday. A review of the market activity revealed that trade turnover had decreased from the previous session.
In contrast to the 623.08 million shares valued at N16.95 billion traded in 10,257 trades on Thursday, a total of 545.49 million shares valued at N14.61 billion were exchanged in 12,747 deals.
With 84.65 million shares moved at a value of $4.48 billion, Guaranty Trust Holding Company (GTCO) was at the top of the activity chart in terms of both volume and value.
United Bank of Africa (UBA) exchanged 65.49 million shares valued at N1.83 billion, while Access Corporation sold 68.89 million shares for N1.73 billion. Zenith Bank traded N62.59 million shared worth N2.77 billion and Transnational Corporation transacted 27.43 million shares valued at N383.63 million.
Consequently, the market capitalisation shed N25 billion or 0.04 per cent to close at N59.095 trillion, as against N59,120 trillion recorded on previously.
The All-Share Index also dropped 0.04 per cent or 44 points to settle at 104,518.14, compared to 104,562.06 posted in the previous session. Listed Banks Need N2.8 trillion to Meet New Capital Base
As a result, the Year-To-Date (YTD) return slipped to 39.78 per cent. Losses in the shares of FBN Holdings, StanbicIm IBTC, Transnational Corporation, Julius Berger, among other top losers dragged the market performance down.
However, market breadth closed positive with 23 gainers and 17 losers on the floor of the Exchange. On the gainers’ table, May and Baker Nigeria Plc led by 10 per cent to close at N6.05, Ikeja Hotel, gained 9.95 per cent to close at N7.07 per share.
Chams rose by 9.90 per cent to close at N2.11, Unity Bank went up by 9.66 per cent to close at N2.27 and AIICO Insurance grew by 9.65 per cent to close at N1.25 per share.
Conversely, UAC of Nigeria Plc led the losers’ table by 9.82 per cent to close at N12.40, followed by Julius Berger by 9.17 per cent to close at N59.95 per share.
ABC Transport trailed by 9.09 per cent to close at 70k, Universal Insurance declined by 7.69 per cent to close at 36k, while UPDC Real Estate Investment Trust dropped 6.67 per cent to close at N1.40 per share.
