Negative Close On NGX As ASI Sheds 0.44%.

By: Salamatu Ejembi, Lagos

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The Nigerian Exchange Limited, NGX ended Tuesday’s trading activities on a negative note with the benchmark index declining by 0.44%.

Profit taking activities off DANGOTE CEMENT PLC (-2.44%), ZENITH BANK PLC (-0.42%) and GUARANTY TRUST HOLDING COMPANY PLC (-0.90%) drove the market’s weak performance.

Thus, the All-Share Index declined by 0.44% to settle at 71,041.05 basis points, from yesterday’s 71,353.81 basis points, while the market capitalization lost ₦164.76bn to close at ₦38.875trn as against Monday’s ₦39,040trn.

Consequently, the Month-to-Date and Year-to-Date returns moderated to +2.6% and +38.6%, respectively.

The total volume traded declined by 28.4% even as the value of transactions depreciated by 5.48% where a total of 534.62m units of shares valued at ₦5.62bn were exchanged in 8,136 deals.

ACCESS HOLDINGS PLC was the most traded stock by volume and value at 52.36 million units and ₦942.76 million, respectively.

As measured by market breadth, market sentiment was negative, as 40 stocks lost relative to 19 gainers.

OMATEK VENTURES PLC (-10.00%) and NEIMETH INTERNATIONAL PHARMACEUTICALS PLC (-9.87%) recorded the most significant losses of the day, while SECURE ELECTRONIC TECHNOLOGY PLC (+10.00%) and MECURE INDUSTRIES PLC (+9.99%) topped the gainers’ list.

Sectoral performance was mixed, as the Insurance (-1.3%) and Industrial Goods (-1.3%) indices declined, while the Banking (+0.1%) index advanced. The Consumer Goods and Oil & Gas indices closed flat.

 

Olusola Akintonde