The Nigerian Exchange (NGX) equities section finished slightly down after two robust trading sessions. Profit-taking practices at GEREGU, Zenith, and Nigerian Flour Mills offset advantages realized by MTN Nigeria. Equities investors lost roughly N5.2 billion as a result of unfavorable returns, and key performance indicators fell.
As a consequence, the market index or All-Share Index (NGXASI) fell by one basis point, finishing at 63,757.23 points, down from 63,766.72 points the previous session. As a result of the selloffs, the year-to-date return has decreased to 24.40%.
Today’s trading session saw a significant reduction in transaction value, falling by -76.45% to NGN 10.08 billion. Furthermore, trading volume fell by -45.50%, with a total of 473.49 million units traded in 7,403 transactions.
The volume and value traded in the market fell by 45.50% and 76.45%, respectively, to 473.49 million units and N10.08 billion.
The ratio of gainers to losers, which gauges investor mood, fell to 0.89x from 2.50x the previous day as 24 companies rose, 27 fell, and 64 finished flat.
The day’s biggest losses were GEREGU (-10.0%) and PRESTIGE (-10.0%), while the biggest winners were HONYFLOUR (+10.0%) and ETERNA (+10.0%).
The day’s bearish performance was driven by notable declines in major stocks such as GEREGU (-10%), FLOURMILL (-3.23%), ZENITHBANK (-1.68%), ACCESSCORP (-0.60%), and FBNH (-0.56%), as well as 22 other stocks. UBA (-4.35%), TRANSCORP (-4.18%), (-1.68%), WAPCO (-1.03%).
On sectorial performance, the Oil & Gas (+0.6%), Insurance (+0.5%), and Consumer Goods (+0.5%) indices posted gains, while the Banking (-2.1%) and Industrial Goods (-0.1%) indices declined. Overall, the market capitalization declined by N5.17 billion to close at N34.716 trillion.
