NGX Equity Market Losses N51bn

Stock Exchange Closes Trading Week With N30bn Gain

On Monday, the Nigerian Exchange Ltd.’s (NGX) market capitalization decreased by N51 billion.In particular, the market capitalization decreased by 0.09 percent from its opening value of N55.861 trillion to its closing value of N55.810 trillion.

In addition, the All-Share Index fell by 93 points, or 0.09 percent, to end at 101,995.53, down from Friday’s closing price of 102,088.30. As a result, the Year-To-Date (YTD) return decreased to 36.41%.

Selloffs in some Tier-one bank equities, including those of FBN Holdings, United Bank for Africa (UBA), Zenith Bank, and Dangote Cement, were the cause of the negative performance.

9,957 transactions totaling 294.32 million shares valued at N6.72 billion were completed, as opposed to 7,710 transactions totaling N291.01 million shares valued at N6.02 billion at the preceding session.

However, analysis of the market activities indicated trade turnover settled higher relative to the previous session, with the value of transactions up by 11.69 per cent.

On the losers chart, Nestle Nigeria Plc led in percentage terms of 10 to close at N990. Eterna Plc followed by 9.97 per cent to close at N15.80 per share.

FIDSON Healthcare Plc lost 9.82 per cent to close at N15.15, CWG Plc trailed by 9.56 per cent to close at N6.15, while Sunu Assurances declined by 9.09 per cent to close at N1.90 per share.

Conversely, National Salt Company of Nigeria(NASCON) led the gainers’ table in percentage terms of 10 to close at N66, Juli Plc gained 9.83 per cent to close at N2.57 per share.

FBN Holdings appreciated by 9.68 per cent to close at N34, WAPIC Insurance rose by 8.96 per cent to close at 73k, while Daar Communications went up by 8.86 per cent to close at 86k per share.

On the activity chart, FBNH led in volume and value with trade of 73.84 million shares valued at N2.42 billion, followed by United Bank of Africa (UBA) which sold 20.67 million shares worth N493.05 million.

Zenith Bank also traded 20.62 million shares valued at N731.41 million, Fidelity Bank sold 19.98 million shares worth N205.40 million and Veritas Kapital transacted 12.32 million shares valued at N8.96 million.

Meanwhile, market breadth closed positive with 28 gainers and 26 losers on the trader’s chart.

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