Access, Zenith Drag NGX Into N186.89bn Loss
Loss widened at the floor of the Nigerian Exchange Limited (NGX) on Tuesday as investors lost N186.89 billion at the close of the day’s trading session.
The All-Share Index declined by 0.69 per cent to close at 49,644.92 basid points even as the market capitalisation dropped by same percentage to N26.78 trillion.
Zenith Bank, Guaranty Trust Holding Company (GTCO), FBN Holdings, Access Holdings were some of the stocks that dragged the benchmark index to a negative performance.
An assessment of the performance of the domestic bourse shows that Zenith Bank lost 0.75k to close at N20.25; GTCO shed 0.10k to close at N19.80; FBNH declined 0.20k to close at N10.50 and Access Bank dropped 0.05 to close at N8.70.
Other companies which share prices dropped were Stanbic IBTC Holdings, NGX Group, Airtel Africa and Nigerian Breweries.
Stanbic share price dropped 0.50k to close at N31.50; NGX Group, N1 to close at N20; and Airtel Africa, N40 to close at N2,000; and Nigerian Breweries, 0.30k to close at N48.45
In all 18 companies stocks fell against 11 companies which share prices appreciated. As a result, the local bourse’s year-to-date (YtD) gain dropped to 16.22 per cent.
Sectoral performance showed that the banking and insurance indices plunged by 1.31 per cent and 0.06 per cent to 380.62 basis points and 180.56 basis points respectively.
On the positive side, the consumer goods and industrial indices advanced by 0.16 per cent and 0.04 per cent to close at 607.63 basis points and 1,788.96 basis points respectively, while the oil and gas index remained unchanged.
Trading activity was mixed as total value of stocks traded declined 88.50 per cent to N2.73 billion as well as the volume of stocks which decline by 30.82 per cent to 138.99 million units.
Again, Sterling Bank and MTN Nigeria topped as most traded stock by volume and value with 18.30 million units and N3.28 million respectively.
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