International Breweries, BUA Foods, Jaiz Bank, Others Drag NGX Down By N110.5bn
The Nigerian equities market has continued its yoyo ride in recent times with the exchange closing bearish Tuesday.
The All-Share Index (ASI) lost 204.95 index points or 0.40 per cent to settle at 51,586.5 basis points as against 51,791.45 basis points it closed the previous trading session.
Remarkably, the market capitalization which is the aggregate value of all listed equities on the NGX depreciated N110.5 billion, representing a 0.40 per cent dip to close at N27.81 trillion down from N27.92 trillion. However, the NGX rose 20 per cent year-till-date (YTD).
The decline of the exchange was impacted by the rise in the value of medium and small-scale companies. Amongst them are; Red Starex Express Plc, John Holt Plc, UPDC Plc, Unity Bank Plc and Academy Press Plc.
A total of 234.6 million shares worth N2.57 bin 4,646 deals were transacted on the floor of the domestic bourse Tuesday
The market breadth was positive as Red starex Express Plc led 23 gainers in percentage terms and 16 losers, topped by International Breweries Plc.
Red Star Express Plc, gained 10 per cent to close at N2.75 per share, while John Holt Plc followed with a 9.76 per cent surge to settle at N0.90 kobo per share.
In the vein, UPDC Plc rose 9.52 per cent to close at N0.46 kobo per share, while unity bank Plc appreciated by 9.52 per cent to settle at N0.46 kobo per share.
The NGX top five gainers table was completed by Academy Press Plc as the company soared by 8.33 per cent to close at N1.43 kobo per share.
Conversely, International Breweries Plc, dipped 9.52 per cent to close at N5.70 kobo per share, and Chile Consolidated Hallmark Insurance Plc lost 8 per cent to settle at N0.69 kobo per share.
In the losing trajectory, laid bank Plc fell 6.67 per cent to close at N0.84 kobo per share, while Nascon Plc declined by 6.38 per cent to close at N11 per share. BUA Foods Plc depreciated by 6.36 per cent to settle at N51.50 kobo per share.
Analysis of the NGX market activity chart shows that CAP Plc was the most active stock in volume parameters, trading a total of 29.32 million units of shares valued at N499,95 million, while Guaranty Trust Bank (GTCO) Plc closed as the most valuable brand, transacting 29,02 million shares worth N592.44 million.
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