NGX market capitalisation falls by N11bn

Salamatu Ejembi, Lagos 

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The Nigerian Exchange Limited, NGX has sustained its downward trend, following up Tuesday’s loss with a marginal decline today.

Wednesday’s negative close was influenced by a late selloff of STANBIC IBTC HOLDINGS PLC shares which fell by 3.2%.

At the close of trading activities on Wednesday, the All-Share Index closed at 43,245.02 basis points, which is 10.12 basis points or 0.02% lower than Tuesday’s close of 43,255.14 basis points.

The Market Capitalization also declined but by 11 billion Naira or 0.05% to close at 22,565 trillion Naira as against yesterday’s close of 22,576 trillion Naira.

The total volume traded increased by 11.6% to 243.19 million units, valued at N3.75 billion, and exchanged in 3,777 deals.

ZENITH BANK PLC was the most traded stock by volume at 37.41 million units, while NESTLE NIGERIA PLC was the most traded stock by value at N1.06 billion.

As measured by market breadth, market sentiment was positive as 23 stocks gained relative to 18 losers.

LIVINGTRUST MORTGAGE BANK PLC topped the gainers by 0.08k or 10.00%, followed by CHAMS PLC with 0.02k or 9.52% then AIICO INSURANCE PLC with 0.05k or 9.26% gains.

For the losers however, HONEYWELL FLOUR MILL PLC led by 0.40k or 9.8%, next is ETERNA PLC with 0.60k or 9.0% and REGENCY ASSURANCE PLC with 0.03k or 7.7%.

Sectoral performance was broadly positive as the insurance index gained 2.1%, Banking index gained 0.3%, Industrial Goods index upped 0.1%, and Consumer Goods index gained 0.1% while the Oil and Gas index declined by 0.2%.

Bilkisu Pai

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