Sell-offs On NGX Trigger Stock Market N100bn Loss

The Nigerian Exchange Limited NGX closed on a negative note, with a dip of 0.39 per cent on Thursday aided by sell-offs and buy-interests.

The All-Share Index ASI which opened at 47,482.73 basis points on Thursday lost 186.66 index points or 0.39 percent to close at 47,296.07 basis points.

Remarkably, the market capitalization which represents the total value of listed quoted on the NGX depreciated by N100 billion or 0.39 percent to close at N25.49 trillion compared to N25.59 trillion I closed with on Wednesday.

The huge loss of the Nigerian Bourse was buoyed by decline in the equity value of medium companies. Amongst which are ; RTBriscoe Plc, CAP Plc, Nigerian Exchange Limited NGX Group, Red Starex and Royal Exchange Plc.

A total of 243. 43 million units of shares valued at N6.87 billion in 7,056 deals were bought and sold by investors on the NGX.

The Marge breadth was negative with 34 laggard equities compared to twelve gainers on the bourse

The gainers’ table was led in percentage terms by ANC Transport Plc, gaining 9.38 percent to close at 35 kobo per share.

Lasaco Assembly jumper 7.62 percent to close at N1.13 kobo per share, while Jaiz Bank Plc rose 5.71 percent to close at 74 kobo per share.

Similarly, African Prudential and Linkage Assurance Plc appreciated
3.85 percent to close at N6.75 per share and and 54 kobo per share respectively.

Conversely, the losers’ chart was dominated by RTBriscoe Plc, dropping 10 percent to close at 63 kobo per share.

Also, Cap Plc declined by 10 percent to close at N17.55 kobo per share, while NGX Group fell by 9.96 percent to close at N20. 80 kobo per share.

In the same vein, Red Starex and Royal Exchange shed 9.78 and 9.80 percent to close at N3.32 kobo per share and N1.49 kobo per share respectively.

The market activity chart of the NGX showed that Transnational Corporation of Nigeria (Transcorp) was the most active equity at
28. 222 million units of shares valued at N30.24 million, while MTN Nigeria closed trading as the most valuable stock at N4.65 billion.