Equity Market Erases Previous Day’s Gain By N17 Billion Loss

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Trading activities on the floor of the Nigerian Exchange Limited (NGX) closed on a negative note to upturn the previous day’s gain as bear regained its grip on the stock market following losses recorded by blue chip firms.

However, the stock market recorded 22 gainers led by Lasaco Insurance Plc against 16 losers led by Learn Africa Plc to close the market breath positive.

Consequently, the All-Share Index depreciated by 31.07 basis points or 0.6% to close at 50,594.94 index points as against 50,626.04 recorded the previous trading session while market capitalisation of equities dropped by N17 billion from N27.300 trillion the previous day to N27.283 trillion as market sentiment returned to the negative territory.

Equity Market Erases Previous Day’s Gain By N17 Billion Loss

Meanwhile, a turnover of 121.160 million shares exchanged in 4,369 deals was recorded in the day’s trading. 

Premium sub-sector was the most active (measured by turnover volume); with 44.9 million shares exchanged by investors in 1,501deals. 

Volume in the sub-sector was largely driven by activities in the shares of MTN Nigeria Plc and FBNH Plc. 

Also, banking sub-sector boosted by the activities in the shares of Sterling Bank Plc and GTCO Plc followed with a turnover of 18.76 million shares in 5885 deals. 

Market Indices  

  • NGX ASI: 50,594.97 points   
  • Previous ASI: 50,626.04 points   
  • % Day Change: 0.6%   
  • % Y-t-D: 18.44%  
  • Market Cap (N): 27.283 trillion   
  • Volume: 121.160 million 
  • Value (N): 4.17 billion   
  • Deals: 4,369 

NGX Top ASI gainers    

  • LASACO up +10% to close at N0.99 
  • UPDC up +9.71% to close at N1.13 
  • HONEYWELL up +9.69% to close at N2.49 
  • CHAMS up +8.70% to close at N0.25 
  • JAPAUL GOLD up +7.41 to close at N0.29 

NGX Top ASI losers   

  • LEARN AFRICA down – 10% to close at N2.34 
  • UPL down – 9.79% to close at N2.12 
  • CORNERSTONE down –9.33% to close at N0.68 
  • UNITY BANK down –4.26% to close at N0.45 
  • FIDELITY BANK down – 3.85% to close at N3.00 

Top 3 by Volume   

  • MTNN  –10,411.808 
  • FBNH – 9,532,990  
  • ZENITH – 8,365,410 

Top 3 by Value  

  • MTNN – N2,236,298,045 
  • ZENITH – N178,850,112 
  • NB – N132,664,199