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Losses From Chams, FCMB, 14 Other Stocks Extend Market Downturn

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Losses From Chams, FCMB, 14 Other Stocks Extend Market Downturn

Activities on the Nigerian Exchange Limited (NGX) sustained a southward trajectory following losses recorded by blue chip firms.

Checks by SKYTREND NEWS showed that the gains recorded in the shares of Chams Plc, FCMB Plc and other blue-chip stocks dragged market capitalisation to further lose N24 billion or 0.09%, accumulating days of a bearish trend.

Consequently, the local Bourse (NGX) closed negative amidst sell pressure as bears dominated proceedings on the trading floor.

The All-share Index (ASI) depreciated by 0.09% or 45.19 basis points to close at 49,559.73 index points as against 49,644.93 index point the previous day. In the same vein, the overall market Capitalization declined by N24 billion or 0.09% to close at N26.753 trillion as against N26.777 trillion the previous day. 

Losses From Chams, FCMB, 14 Other Stocks Extend Market Downturn

However, market breadth closed positive with 17 gainers against 16 losers as PZ Cussons Plc led the gainers with 9.76% while Chams Plc led the losers with 10%. 

Market Indices  

  • NGX ASI: 49,599.73 points   
  • Previous ASI: 49,644.92 points   
  • % Day Change: 0.09%  
  • % Y-t-D: 16.11%  
  • Market Cap (N): 26.753 trillion   
  • Volume: 128.94 million 
  • Deals: 3,426 
  • Value: N 1.6 billion 

NGX Top ASI gainers    

  • PZ CUSSONS  up +9.76% to close at N9.00 
  • NPF up +4.58% to close at N1.60 
  • UACN +3.64% to close at N11.40 
  • ABC +3.57% to close at N0.29 
  • JAPAUL +3.45% to close at N0.30 

NGX Top ASI losers   

  • CHAMS down – 10% to close at N0.27 
  • FCMB  down – 8.02% to close at N3.21 
  • MC NICHIOLS down – 7.46% to close at N0.62 
  • FTN COCOA  down – 6.67% to close at N0.28 
  • CORNERSTONE down –3.90% to close at N1.48