NGX Equities Declines By 0.57%

By: Salamatu Ejembi, Lagos

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The All Share Index of the Nigerian Exchange Limited, (NGX), had at the close of trading activities of Equities on Wednesday, declined by 556.37 basis points or 0.57% to settle at 96,567.24 basis points as against Tuesday’s close of 97,123.61 basis points.

Similarly, the Market Capitalisation declined from ₦58,852trn to ₦58,515trn, shedding off ₦337.13bn or 0.57%.

Today’s bearish close is primarily attributed to losses in Tier-1 banking names; GUARANTY TRUST HOLDING COMPANY PLC (-1.91%), ZENITH BANK PLC (-0.81%), and UNITED BANK FOR AFRICA PLC (-9.99%).

As a result, the Month-to-Date and Year-to-Date returns settled at -0.8% and +29.15%, respectively.

Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 60.73% while the total volume traded decreased by 88.4%.

Thus, a total of 418.39m shares valued at ₦10.04bn were exchanged in 9,021 deals. Where STERLING FINANCIAL HOLDINGS COMPANY PLC came in as the most traded stock by volume at 79.65 million units, while UNITED BANK FOR AFRICA PLC was the most traded stock by value at ₦2.57 billion.

As measured by market breadth, market sentiment was negative with 21 declining issues outnumbering 20 advancing ones.

UNITED BANK FOR AFRICA PLC (-9.99%) OANDO PLC (-9.98%) and THOMAS WYATT NIG. PLC. (-9.79) topped the losers’ list, while EUNISELL INTERLINKED PLC (+9.87%), REGENCY ASSURANCE PLC (+9.30%) and VERITAS KAPITAL ASSURANCE PLC (+ 9.17%) recorded the most significant gains of the day.

Sectoral performance was mixed as the Banking (-0.9%) and Consumer Goods (-0.1%) indices settled lower, while the Oil & Gas (+0.8%) and Insurance (+0.5%) indices advanced. The Industrial Goods index closed flat.

 

Olusola Akintonde

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