NGX Equities Market begins trading on negative note

Salamatu Ejembi, Lagos.

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Equities trading on the Nigerian Exchange (NGX) resumed this week on a negative note, following selloffs in Tier-1 Banks, GUARANTY TRUST HOLDING COMPANY PLC (-2.5%) and ZENITH BANK PLC (-1.3%).

 

Accordingly, the All-Share Index ended the session 0.1% or 37.45 points lower at 38,906.42 basis points from 38,943.87 basis points. 

 

The Market Capitalization declined by 0.1% or N20 billion from N20,290 trillion to N20,270 trillion.

 

The total volume of trades increased by 23.1% to 190.96 million units, valued at N2.35 billion, and exchanged in 3,462 deals.

 

 

EKOCORP was the most traded stock by volume at 40.00 million units, while MTN NIGERIA COMMUNICATIONS PLC was the most traded stock by value at N752.67 million respectively.

 

Analyzing by sectors, the Insurance (-0.7%), Banking (-0.3%), and Consumer Goods (-0.2%) indices declined, while the Oil & Gas (+0.1%) recorded the sole gain of the day.

The Industrial Goods index closed flat.

 

As measured by market breadth, market sentiment was flat as an equal number of stocks (19) recorded gains and declines.

 

CONSOLIDATED HALLMARK INSURANCE PLC (+9.6%) and CHAMS PLC (+9.5%) topped the gainers’ list, while S C O A NIG. PLC (-9.7%) and VERITAS KAPITAL ASSURANCE PLC (-8.7%) recorded the most significant losses of the day.
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