NGX benchmark index sheds 0.38%

Salamatu Ejembi, Lagos

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Thursday’s trading session of Equities on the floor of the Nigerian Exchange Limited, NGX ended with the benchmark index reversing by 0.38%, the gains made on Wednesday.

NGX benchmark index recovers from downward trend, grows by 0.43%

The All-Share Index thus depreciated by 0.38% or 254.43 basis points to settle at 67,098.80 basis points when compared with previous session’s 67,353.23 basis points.

In the same vein, the market capitalisation declined by 0.38% or ₦140bn from ₦37,004trn to ₦36,864 trn.

Today’s negative sentiments are attributed to investors’ profit taking activities in STANBIC IBTC HOLDINGS PLC(-8.5%), MTN NIGERIA COMMUNICATIONS PLC (-0.20%), NESTLE NIGERIA PLC (-0.49%) and ZENITH BANK PLC (-0.75%) therefore offsetting the gains in GUARANTY TRUST HOLDING COMPANY PLC (+0.71%).

The total volume of trades decreased to 298.69 million units of shares traded, valued at ₦4.48billion, and exchanged in 5,453 deals.

UNITED BANK FOR AFRICA PLC led the volume and value charts with 56.29m units traded in deals worth ₦1.05bn.

Market breadth closed negative with 25 declining issues outnumbering 16 advancing ones.

MCNICHOLS PLC (-8.82%) and OMATEK VENTURES PLC (-8.70%) recorded the most significant losses of the day, while LEARN AFRICA PLC (+10.00%) and DAAR COMMUNICATIONS PLC (+9.52%) topped the gainers’ list.

Analysing by sectors, the Insurance (-1.1%), Banking (-1.0%), and Consumer Goods (-0.3%) indices declined while the Industrial Goods and Oil & Gas indices closed flat.