Stock Trading Volume Drops, Market Cap Stalls At N22.58tn

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The market capitalisation of stocks listed on the Nigerian Exchange Limited remained unchanged at the end of trading on Tuesday as trading volumes fell, reversing Monday’s uptrend.

The NGX All-Share Index dipped by 4.99 basis points from 43226.27bps to 43.255.14bps on Monday, while the market capitalisation stood unchanged at N22.58tn.

The market activities were bearish as the total volume and value traded depreciated by 90.93 per cent and 82.34 per cent, respectively. A total of 217.97 million units valued at N2.91bn were transacted in 4,158 deals.

Guaranty Trust Holding Company Plc topped the traded stocks in terms of volume and value, accounting for 16.60 per cent of the total volume of trades and 31.63 per cent of the total value of trades on the NGX on Tuesday.

Analysing by sector, the NGX Banking Index sector rose by 0.21 per cent, while the NGX Insurance, NGX Oil & Gas and NGX Consumer Goods indices declined. The NGX Industrial Goods index remained unchanged at the end of trading on the floor of the NGX.

The market sentiment, as measured by market breadth, closed on a positive note, recording 19 gainers and 15 losers.

Honeywell Flour Mills Plc led the charts for the second consecutive day with a 9.95 per cent increase to close at N4.09 per share after the announcement of Honeywell Group Limited’s proposed sale of its 71.69 per cent in HFM to Flour Mills of Nigeria Plc.

University Press Plc rose by 8.7 per cent to N2.5 per share.

Other top gainers were Consolidated Hallmark Insurance Plc and GlaxoSmithKline Consumer Nigeria Plc.

Atop the losers’ chart was UPDC Plc and NEM Insurance Plc as their share prices fell by 9.35 per cent and 9.27 per cent respectively.

– Punch

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