Yesterday, the market capitalization of the Nigerian Exchange Limited (NGX) decreased by another N14 billion due to sell-offs in the shares of various blue-chip businesses, particularly NGX Group and African Prudential.
The market value of listed stocks decreased 0.052% to N26.614 trillion at the end of yesterday’s trade from N26.628 billion as of the previous day.
The All-Share Index likewise declined, falling 25.95 basis points from Friday’s reading of 49370.62 to today’s 49344.67 points. 132.232 million shares worth N1.625 billion changed hands in 3045 trades, compared to investors trading 122.935 million shares worth N1.301 billion in 3915 deals.
FTNCocoa posted the largest daily loss on the price movement chart, losing 9.09% to close at 30 kobos. With a loss of 8.65%, Lasaco Insurance fell to 95 kobos in last place. Wapic Insurance decreased 7.32% to close at 38 kobos.
To close at N10, Ecobank Transnational Incorporated fell 5.66%. NGX Group decreased by 4.62% to N19.60. African Prudential lost 3.45 percent to settle at N5.60 kobo and Jaiz Bank lost 4.49 percent to close at 85 kobos. TransNational Corporation lost 1.87 percent of its value to end the day at N1.05 kobo. To close at 56 kobos, AIICO had a 1.75 percent decrease. Academy Press also decreased by 1.4% to finish at N2.05 kobo.
But Courteville Business Solutions took the top spot on the gainers’ chart, rising 9.09% to close at 48 kobos. Following closely behind, Honeywell Flour mills increased by 8.68% to close at N2.63 kobo. Mutual Benefits Insurance increased 8.00% to finish at N27. To close at N4, NEM Insurance rose by 4.71%. To close at N3.90 kobo, Champion Breweries had a 2.90 percent increase.
Fidelity Bank increased by 33% to conclude at N3.07 kobo, while United Capital gained 1.69 percent to close at N12. Gaining 23% to close at N20.00, Zenith Bank. Additionally, Lafarge WAPCO gained 21 kobos to finish at N24.
According to Vetiva Dealings & Brokerage, the market opened the week in a gloomy mood due to a decline in market breadth. Tomorrow, we anticipate a mixed session to continue with some little price-cutting across sectors.
The most active stock of the day was Mutual Benefits Assurance, which had 18.428 million shares worth N4.975 million traded.
Transnational Corporation of Nigeria traded 9.230 million shares for N9.717 million, followed by GTCO Plc, Sterling Bank, and AccessCorp. Transnational Corporation of Nigeria traded 8.576 million shares for N17.374 million, while AccessCorp traded 7.866 million shares for N65.415 million.