Due to unfavorable price moves in GTCO, MTN Nigeria, and Dangote Sugar Plc, among other companies, the Nigerian Exchange’s (NGX) equity market capitalization fell by around N25 billion on Wednesday.
Key performance indicators fell, according to information from the local stock exchange. The day’s loss was led by MTNN (-3.40%), DANGSUGAR (-1.44%), and GTCO (-0.22%), stockbrokers said in an email message. This obscured the bullish feeling in FBNH (+3.94%) and UBA (+3.70%).
The Nigerian Exchange All-Share Index closed at 100,032.32 today after declining by 43.27 basis points, or -0.04%. Trading activity improved, according to trading results. The day’s total trading volume and value climbed by +198.41% and +35.71%, respectively.
Stockbrokers said approximately 1,099.30 million units valued at ₦10,076.41 million were transacted across 8,720 deals on the Nigerian bourse. JAIZBANK was the most traded stock in terms of volume, accounting for 48.10% of the total volume traded.
The Islamic lender was followed by CUTIX (17.71%), ZENITHBANK (7.08%), UNIVINSURE (3.30%), and FCMB (3.08%) to complete the top 5 on the volume chart. ZENITHBANK emerged as the most traded stock in value terms, with 30.85% of the total value of trades on the exchange.
UCAP topped the advancers’ chart with a price appreciation of 10.00 percent, trailed by AFRIPRUD, which grew by +9.88%. Other gainers are CUTIX (+9.86%), OANDO (+5.62%), JBERGER (+4.79%), SUNUASSUR (+4.32%), and twenty-one others. Trading data showed that fifteen stocks depreciated due to negative investors’ perceptions.
RTBRISCOE was the top loser, with a price depreciation of -5.71%. Other losers include FTNCOCOA (-4.44%), TANTALIZER (-4.26%), NEIMETH (-3.53%), MTNN (-3.40%), and WEMABANK (-2.26%). At the end of the trading session, the market breadth closed positive, recording 27 gainers and 15 losers.
Sectoral performances were mixed, with the Banking (+1.09%), Oil and Gas (+0.05%), and Industrial Goods (+0.01%) indexes bullish on the back of buying interest in FBNH (+3.94%), OANDO (+5.62%), and JBERGER (+4.79%), respectively.
Conversely, Consumer Goods (-0.01%) and Insurance (-0.36%) witnessed bearish sentiment on account of selloffs in DANGSUGAR (-1.44%) and MANSARD (-2.50%), respectively.
Overall, the equities market capitalization of the Nigerian Exchange declined by ₦24.50 billion to close at ₦56.65 trillion.
