The Nigerian Exchange Limited, NGX resumed the trading activities on Thursday with the benchmark index sustaining its downward trajectory, dipping further by 0.3%.
NGX after the Monday and Tuesday bearish trading sessions, went on a one-day public holiday on Wednesday, to mark the Muslim Eid-El-Maulud celebrations.
READ ALSO: NGX All-Share index dips by 0.09 percent
The Market Capitalisation declined from ₦36,479trn to ₦36,368trn, losing ₦111bn or 0.3%. While the All-Share Index declined from 66,652.17 basis points to 66,448.63 basis points, shedding off 203.54 basis points or 0.3%.
The third successive weekly loss was driven primarily by profit-taking activities witnessed in DANGOTE SUGAR REFINERY PLC(-6.0%) and decline in banking names UNITED BANK FOR AFRICA PLC(-6.4%), GUARANTY TRUST HOLDING COMPANY PLC(-0.72%), ACCESS HOLDINGS PLC(-0.32%) and FBN HOLDINGS PLC(-0.31%).
By the end of the day, investors traded 273.80 million units of shares, valued at ₦3.41 billion, and exchanged in 6,826 deals where ACCESS HOLDINGS PLC led the volume and value charts with 45.88m units of shares traded in deals worth ₦710.63m.
As measured by market breadth, market sentiment was negative with 26 declining issues outnumbering 16 advancing ones.
VITAFOAM NIG. PLC with ₦2.45k or 9.92% loss, FTN COCOA PROCESSORS PLC with 0.17k or -9.88% loss and OANDO PLC with 0.95k or -9.84% loss, led twenty-three (23) others on the laggard’s log while R T BRISCOE PLC with 0.04k or 9.76% gain, CWG PLC (0.70k or 9.72%) and BETA GLASS PLC (₦4.90k or 9.55%) topped thirteen (13) others on the leader’s table.
Sectoral performance was mixed, as the Banking (-1.0%) and Consumer Goods (-0.7%) indices closed in the red, while the Oil & Gas and Industrial Goods indices closed flat. Meanwhile, the Insurance (+0.8%) index was the sole gainer of the day.
