The Nigerian Exchange (NGX) stock market capitalization decreased by around N65 billion on Thursday as a result of major selloffs in Transcorp Hotels and bank shares. The Nigerian Exchange All-Share index declined as the market saw strong selling in Zenith Bank, FBN Holdings, Transcorp Hotels, and other stocks.
According to data from the local exchange, the All-Share Index decreased 0.12%, or 114 points, to 95,718.05, down from 95,831.51 on Wednesday. As a result, the year-to-date return has slowed to 28.01 percent, but it remains lower than the annual inflow rate. However, market breadth was positive, with 22 gainers and 18 losers.
However, market activity was uneven, as the overall volume traded for the day climbed by 9.17%, but the total value exchanged decreased by 19.28%. Stockbrokers said approximately 393.62 million units valued at ₦5,853.80 million were transacted across 8,243 deals.
UNIVINSURE was the most traded stock in terms of volume, accounting for 17.34% of the total volume of trades, followed by CHAMS (8.60%), OANDO (7.59%), TRANSCORP (7.15%), and ACCESSCORP (5.77%) to complete the top 5 on the volume chart.
OANDO emerged as the most traded stock in value terms, accounting for 22.11% of the total value of trades on the exchange. Academia topped the advancers’ chart with a price appreciation of 10.00 percent.
Also on the gainers chart were OANDO (9.99%), RTBRISCOE (+9.78%), IMG (+9.09%), TANATALIZER (+8.77%), DEAPCAP (+8.51%), and fifteen others. Eighteen stocks depreciated, according to market data for the day. TRANSCOHOT was the top loser, with a price depreciation of -10.00%.
Other decliners include CHAMS (-9.72%), ETERNA (-9.55%), IKEJAHOTEL (-9.09%), PRESTIGE (-7.69%), and BUAFOODS (-0.24%).
On sectoral performance, banking (-0.82%), oil & gas (-0.46%), and consumer goods (-0.11%) were negative due to selloffs in STANBIC (-4.74%), ETERNA (-9.55%), and BUAFOODS (-0.24%). Elsewhere, insurance (+0.44%) gained traction from appreciation in AIICO (+3.67%), while the industrial goods index closed flat.
Overall, the equities market capitalisation of the Nigerian Exchange closed at N54.98 trillion, with investors losing N64.98 billion.
