NGX: Three-days consecutive loss as All Share Index slips marginally by 0.1%

Wednesday’s trading activities on the floor of the Nigerian Exchange Limited (NGX), ended with a 3-day consecutive loss in the equities market.

Thus, the All-Share Index, ASI slipped marginally by 0.07% (0.1%) to close at 52,721.34 points while the market capitalization lost ₦19.02bn to close at ₦28.42trn.

This is in comparison to Tuesday’s All-Share Index (ASI) of 52,756.62 basis points and market capitalisation of ₦28.442trn.

The descent followed selloffs in FBN HOLDINGS PLC (-3.2%), LAFARGE AFRICA PLC (-2.4%), ZENITH BANK PLC (-2.41%) and TRANSNATIONAL CORPORATION PLC (-6.34%).

Analysis of Wednesday’s market activities showed trade turnover settled lower relative to the previous session as a total of 611.97m units of shares valued at ₦7.43bn were exchanged in 5,948 deals.

FBN Holdings Plc was the most traded stock by volume and value at 153.34 million units of shares worth ₦1.90 billion, respectively.

As measured by market breadth, market sentiment was negative as 23 stocks lost relative to 21 gainers.

ACADEMY PRESS PLC (-9.9%) and BERGER PAINTS PLC (-8.9%) recorded the most significant losses of the day, while MCNICHOLS PLC (+9.94%) and TRANSCORP HOTELS PLC (+9.84%) topped the gainers’ list.

Analyzing by sectors, the Insurance (+0.8%), Consumer Goods (+0.3%), Oil & Gas (+0.2%), and Banking (+0.1%) indices gained, while the Industrial Goods (-0.2) index declined.