The Nigerian Exchange Limited, NGX begun this week’s trading activities on a negative with the benchmark index dropping by 0.24%.
While the market capitalisation fell from ₦36,920trn to ₦36,830trn shedding ₦90bn or 0.24%, the All-Share Index declined from 67,200.69 basis points to settle at 67,037.93 basis points on Monday, losing 162.76 basis points or 0.24%.
Selloffs in STANBIC IBTC HOLDINGS PLC, LAFARGE AFRICA PLC and UNION BANK NIG. PLC offset gains in ZENITH BANK PLC, GUARANTY TRUST HOLDING COMPANY PLC and ACCESS HOLDINGS PLC to drive the market’s weak performance.
During the course of transaction, investors traded a total of 216.1m units of shares valued at ₦3.551bn in 5,965 deals. Where United Bank for Africa Plc was the most traded stock by volume with 32.62m units of shares traded and Dangote Sugar Refinery Plc was the most traded stock by value at ₦658.031m.
By the close of trading, 19 stocks gained while 22 declined.
ROYAL EXCHANGE PLC topped the gainers with an upward movement from 0.47k per share to 0.51k per share, gaining 0.04k or 8.51%.
Next is CONSOLIDATED HALLMARK INSURANCE PLC with a gain from 1.15k per share to 1.23k per share, gaining 0.08k or 6.96%.
And NASCON ALLIED INDUSTRIES PLC upped from ₦55.00 per share to close at ₦58.00 per share, gaining ₦3.00 or 5.45%.
Conversely, SOVEREIGN TRUST INSURANCE PLC fell from 0.40k per share to 0.36k per share by 0.04k or 10.00%.
STANBIC IBTC HOLDINGS PLC trailed with a loss from ₦80.00 per share to settle at ₦72.00 per share shedding ₦8.00 or 10.00%.
And OKOMU OIL PALM PLC declined from ₦263.00 per share to ₦236.80k per share, by ₦26.20k or 9.96%.
Performance across the sectors was mixed, as the Insurance (-0.4%), Oil & Gas (-0.3%) and Industrial Goods (-0.1%) indices printed losses, while the Banking (+0.9%) and Consumer Goods (+0.4%) indices recorded gains.
Olusola Akintonde
