Market Shrinks By N126.6bn In Two Days
Investors on the Nigerian Exchange Limited (NGX) have lost a total of N126.65 billion, representing a 0.45 per cent loss between Monday and Wednesday.
The All-Share Index (ASI) and market capitalization which opened trading on Monday at 51,791.45 basis points and N27.92 trillion closed at 51,556.54 basis points and N27.79 trillion respectively, dropping 0.45 per cent in value.
However, during a single-day trade on Wednesday, the ASI declined by 0.06 per cent, while the market capitalization depreciated by N2 billion. The domestic bourse, however, jumped by 20 per cent year-till-date (YTD).
The marginal fall of the market was reflected in the decline of the value of equities firms like NEM Insurance Plc, Champions Breweries Plc, Union Bank of Nigeria Plc, University Press Plc and RTBriscoe.
The market turnover decreased by 42. 3 per cent as investors bought and sold 135.26 million units of shares worth N1.44 billion in 3,745 deals compared to a total of 234.6 million shares valued at N2.57 billion in 4,646 deals transacted on Tuesday.
The market breadth closed positive with 17 gainers and 16 losers against 23 advanced stocks as well as 16 laggard equities in the previous trading session.
NEM Insurance Plc led the losers’ table in percentage terms, having dropped 10 per cent to settle at N3.42 kobo per share.
Champions Breweries Plc also fell 10 per cent to close at N3.60 kobo per share, while Union Bank of Nigeria Plc shed 9.76 per cent to settle at N5.55 kobo per share.
In the same vein, University Press Plc and RTBriscoe Plc lost 8.91 per cent and 7.50 per cent to settle at N2.35 kobo and N0.37 kobo per share respectively.
On the flip side, Academy Press Plc led the gainers’ chart in percentage parameters, rising 9.79 per cent to settle at N1.57 kobo per share.
Consolidated Hallmark Insurance Plc jumped 8.70 per cent to close at N0.75 kobo per share, while Japaul Gold Plc climbed 7.41 per cent to close at N0 29 kobo per share.
Also, UPDC Credit Plc and Chams Plc gained 4 .35 per cent and 4.17 per cent to close at N3.60 kobo and N0.25 kobo per share respectively.
A cursory look at the NGX market activity chart shows that Transnational Corporation Plc was the most active equity, trading a total of 15.55 million shares worth N19.58 million, while Guaranty Trust Company (GTCO) Plc was the most valuable stock, transacting 1311 million units of shares valued at N267.08 million.
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