NGX: Equities Trading begins on negative note

Chiamaka Ikechukwu

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Equities trading on the floor of the Nigerian Exchange Group (NGX) Limited started the last week of September in the negative territory.

 

The market downward trend came on the back of huge losses recorded in shares of BUA Cement.

 

At the end of the day’s business, the All-Share Index declined by 0.25 percent or 38,864.33 basis points compared to 38,962.28 recorded on Friday.

 

Consequently, the market capitalization of listed equities declined by 0.25% to close at N20.248 trillion as against Friday’s N20.299 trillion.

 

Investors’ losses also dipped further as a total volume of 139.45 million units of shares exchanged hands in 3,539 deals.

 

The market sentiment was, however, positive as trading closed with 20 gainers and 12 losers.

 

On the gainers’ table, UPL led the chart with a price gain of N0.10k to close at N1.12k. TRANSCOHOT followed with a price gain of N0.48k to close at N5.43, while COURTEVILLE also gained N0.03k to close at N0.35k.

 

On the flipside, Mansard Insurance Plc lost N0.33 to close at N2.99k, followed by CHAMS Plc with a closing price of N0.22k after losing N0.01k and Sovereign Trust Insurance Plc, which also lost N0.01k to close at N0.24k.

 

Meanwhile, Analysts say the Q3, 2021 for the market has seen so many ups and down movement in the price of equities amid bargain hunting, investors interest, among others.

 

The Head Capital Market at Interstate Securities Ltd, Gbenga Ogunrinola, however, said the market may rebound within the remaining few days to close the 3rd quarter trading activities.

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