NGX: Trading Closes On Negative Trend

By Salamatu Ejembi, Lagos 

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The Nigerian Exchange Limited, NGX ended Thursday’s trading of equities on a negative as the benchmark index shed off 0.20%.

The Market capitalisation fell from ₦28,819trn to ₦28,762trn, representing a ₦57bn or 0.2% decline. The All-Share Index also fell 0.20% or 106 basis points from 52,927.60 basis points to 52,821.60 basis points.

The first loss of the week is attributed to selloffs in GEREGU POWER PLC(-4.78%), GUARANTY TRUST HOLDING COMPANY PLC (-1.47%), and ACCESS HOLDINGS PLC (-1.35%) which offset the gains in MTN NIGERIA COMMUNICATIONS PLC (+0.09%), STANBIC IBTC HOLDINGS PLC (+0.13%) and UNITED BANK FOR AFRICA PLC (+0.57%).

The total volume traded today stood at 377.14 million units, valued at ₦9.18 billion, and exchanged in 5,879 deals where UNITED BANK FOR AFRICA PLC was the most traded stock by volume at 86.17 million units, while GEREGU POWER PLC was the most traded stock by value at ₦3.92 billion.

As measured by market breadth, market sentiment was negative as 23 stocks lost relative to 22 gainers.

FTN COCOA PROCESSORS PLC led Thursday’s gainers with a rise from 0.57k per share to 0.62k per share, gaining 0.05k or 8.77%. Followed by TANTALIZERS PLC with a rise from 0.24k per share to 0.26k per share, rising by 0.02k or 8.33%. And CORONATION INSURANCE PLC was next with a rise from 0.42k per share to 0.45k per share by 0.03k or 7.14%.

On the reverse side, CONOIL PLC led the losers with a fall from ₦48.40k per share to settle at ₦43.60k per share, losing ₦4.80k or 9.92%. UNILEVER NIGERIA PLC trailed with a fall from ₦15.70k per share to ₦14.40k per share by ₦1.30k or 8.28%. While ETERNA PLC declined from ₦7.25k per share to ₦6.80k per share losing 0.45k or 6.21%.

On sectoral performance, the Consumer Goods (-0.1%), Insurance (-0.1%), Industrial Goods (-0.1%), and Banking (-0.1%) printed losses, while the Oil & Gas (+0.2%) index advanced.


Confidence Okwuchi

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