Investors Opt for Profit-Taking as NGX All-Share Index Slides by 0.44%

Indicating the onset of a profit-taking phase in the Nigerian Exchange Group (NGX), the market’s All-Share Index saw a decline of 0.44%, closing at 71,041.05 points. Equities recorded a loss of N165 billion, causing the market capitalization to dip to N38.875 trillion.

Notably, some of the market’s top gainers for the year, including CWG (down by 9.45%) and DANGCEM (down by 2.44%), witnessed a reduction in gains.

Trading volume also saw a downturn, dropping to 534.619 million units compared to the previous day’s 746.67 million units. The total traded value experienced a slight decrease to N5.62 billion from the previous day’s N5.945 billion.

Key Market Indices for the Day:

• NGX All-Share Index: 71,041.05 points
• % Day Change: -0.44%
• Day’s Lowest: 71,000.10 points
• Day’s Highest: 71,438.19 points
• % YTD: +38.61%
• Market Cap: N38.88 trillion
• Volume Traded: 534.62 million
• Value: N5.62 billion
• Deals: 8,136

Top Gainers:

1. NSLTECH: +10% to close at N0.66
2. MECURE: +9.99% to close at N10.13
3. SUNUASSUR: +9.68% to close at N1.36
4. CONHALLPLC: +9.17% to close at N1.19
5. ROYALEX: +6.35% to close at N0.67

Top Losers:

1. OMATEK: -10% to close at N0.81
2. IKEJAHOTEL: -9.87% to close at N4.20
3. NEIMETH: -9.87% to close at N2.01
4. WAPIC: -9.72% to close at N0.65
5. CWG: -9.45% to close at N6.90

Top Traded Stocks:

• Volume Traded: ACCESSCORP (-0.55%) led with 52.36 million units, followed by TRANSCORP (-1.63%) with 46.56 million units, UPDCREIT (+1.19%) with 46.21 million units, UBA (+1.18%) with 36.35 million units, and UNITYBNK (+0.60%) with 31.25 million units.
• Value Traded: ACCESSCORP led with N942.76 million, followed by UBA with N774.30 million, ZENITHBANK (-0.42%) with N358.33 million, GTCO (-0.90%) with N338.64 million, and OANDO (-1.71%) with N319.66 million.

SWOOTs and FUGAZ Update:

• SWOOTs (DANGCEM, GTCO, ZENITHBANK) experienced a bearish trend, with price declines.
• Tier-1 banks exhibited a reversal in direction, with ACCESSCORP, GTCO, and ZENITHBANK declining, while FBNH (+1.36%) and UBA (+1.18%) recorded price gains.