NB, Oando Drop Value As Stock Market Dips N65.98bn
Investors’ sentiment towards equities was negative Wednesday prompting he Nigerian Exchange Limited (NGX) to dip N65.98 billion as it closed bearish.
The All-Share Index (ASI) lost 122.36 index points or 0.23 per cent to close at 52,186.52 basis points unlike 52,308.88 basis points reported the previous trading session.
Similarly, the market capitalization of the domestic bourse depreciated by N65.98 billion, indicating a 0.23 per cent loss to close at N28.14 trillion compared to its last closing at N28.21 trillion.
The decline of the Nigerian bourse was impacted by losses suffered by large and medium scale companies. Amongst which are ; NAHCO Plc, FTN Cocoa Plc, Nigerian Brewerries Plc, Consolidated Hallmark Insurance Plc and Oando Plc.
The market turnover increased by 15.9 per cent as investors traded a total of 238.27 million shares worth N3.336 billion in 3,814 deals as against 205.64 million units of shares valued at N2.79 billion in 4,127 deals transacted the previous day.
The market breadth closed negative with 22 laggards compared to 13 gainers.
The gainers’ table was led in percentage terms by CWG Plc, as the company gained 9.88 per cent to settle at N0.89 kobo per share.
Multiverse Plc also rose by 9.88 per cent to close at N1.78 kobo per share, while Academy Press Plc jumped 9.68 per cent to settle at N2. 04 kobo per share.
In the same vein, the Initiates Plc and RTBriscoe Plc soared by 9.09 per cent to close at N0.48 kobo per share.
On the flip side, NAHCO Plc, closed the market as the biggest loser in percentage parameters, losing 10 per cent to settle at N5.40 kobo per share.
Also, FTN Cocoa Plc and Nigerian Brewerries Plc dipped 8.57 per cent and 6.13 per cent to close at N0.32 kobo and N49.75 kobo per share respectively.
Likewise, Consolidated Hallmark Insurance Plc fell 5.71 per cent to settle at N0. 66 kobo per share, while Oando Plc shed 5.50 per cent to close at N5. 15 kobo per stare.
A cursory look at the NGX market activity chart shows that Living Trust Mortgage Bank Plc was the most active stock, trading a total of 40. 9 million shares worth N49.09 million, while United Bank for Africa (UBA) Plc closed as the most valuable brand, transacting 30.37 million shares valued at N1.51 billion.
Comments are closed.