The Nigerian Stock Exchange (NGX) witnessed a turbulent start to the week as the All-Share Index declined by 0.66%, resulting in a N259 billion loss in market capitalization. Despite a slight increase in trading volume, the market grappled with a 30% decline in value, closing at 70,946.83 points.
Key Points:
- Market Performance:
- The NGX All-Share Index closed at 70,946.83 points, marking a 0.66% decline.
- Market capitalization dropped to N38.823 trillion, down from N39.082 trillion, reflecting a N259 billion loss.
- The day’s lowest index was 70,941.82 points, while the highest reached 71,607.91 points.
- Year-to-date percentage stands at +38.43%.
- Volume and Value:
- Trading volume saw a slight increase to 358.527 million units, up from 352.860 million units.
- However, there was a 30% decline in trading value, settling at N7.1 billion compared to N10.16 billion on the previous Friday.
- The number of deals executed totaled 6,433.
- Top Gainers:
- THOMASWY led the gainers with a 10.00% increase, closing at N2.75.
- FBNH gained 9.93%, closing at N24.35.
- Other top gainers include DAARCOMM, DEAPCAP, and NEIMETH.
- Top Losers:
- BUACEMENT experienced a 10.00% decline, closing at N93.60.
- MCNICHOLS, CWG, UPDC, and MBENEFIT also featured among the top losers.
- Top Traded Stocks:
- In terms of volume, UNIVINSURE led with 58.85 million units, followed by TRANSCORP, GTCO, UNITYBNK, and UBA.
- AIRTELAFRI led in terms of value, reaching N3.27 billion, followed by GTCO, ZENITHBANK, UBA, and FBNH.
- SWOOT and FUGAZ Update:
- Stocks worth over one trillion faced mixed sentiments.
- BUACEMENT led the losers, while GTCO saw a price gain.
- FBNH appeared on the top gainers chart for Tier-1 banks, with mixed performances for other banks.
Conclusion: The NGX’s turbulent start to the week, marked by a significant decline in the All-Share Index and a notable loss in market capitalization, underscores the volatility in the market. Investors navigate a dynamic landscape, with mixed performances among top gainers, losers, and heavily traded stocks. The market’s response to various sectors and individual stocks reveals the ongoing challenges and opportunities in Nigeria’s equities market.
