On Thursday, sell-offs in Tier-one bank shares led to a 0.32 percent drop in the market indexes of Nigerian Exchange Ltd. (NGX).
The market performance was negatively impacted by declines in the share prices of FBN Holdings, Access Corporation, Zenith Bank, Guaranty Trust Holding Company (GTCO), and StanbicIBTC Bank, among other companies.
As a result, market capitalization dropped by N190 billion, or 0.32 percent, for investors, starting at N59.095 trillion and ending at N58.905 trillion. In addition, the All-Share Index fell by 0.32 percent, closing at 104,181.32 points as opposed to Tuesday’s closing of 104,518.14 points.
This led to a Year-To-Date (YTD) return of 39.33 per cent.
The market breadth ended negative, with 32 losers and 21 gainers. On the losers’ table, International Energy Insurance and Caverton led by 10 per cent each to close at N1.44, N1.62 per share respectively.
Thomaswy lost 9.63 per cent to close at N1.97, NEM Insurance dropped 9.60 per cent to close at N8.95, while Tantalizers went down by 9.52 per cent to close at 38k per share.
On the other hand, UPL Ltd., led the gainers table by 9.84 per cent to close at N2.68, SCOA Nigeria Plc gained 9.96 per cent to close at N2.15 per share.
Morison Industries Plc rose by 9.66 per cent to close at N1.93, Cutix Plc advanced by 9.62 per cent to close at N2.85 and Mutual Benefits Assurance appreciated by 9.38 per cent to close at 70k per share.
Analysis of the market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 39.04 per cent.
A total of 405.03 million shares valued at N8.91 billion were exchanged in 10,364 deals, compared to 545.49 million shares valued at N14.61 billion exchanged in 12,747 deals posted previously.
Access Corporation led the volume chart with 50.00 million shares traded in value of N1.24 billion, UBA sold 49.01 million shares worth N1.37 billion.
Transcorp traded N45.95 million shares worth N612.80 million, Zenith sold 41.88 million shares worth N1.86 billion to lead the chart by value and GTCO transacted 29.70 million shared valued at N1.57 billion.
