Equities Market: Bearish trend continues as NGX-ASI decreases by 1.1%.
Nigeria’s Equities Market closed negative on Monday by 1.1% as the NGX-ASI decreased to 64,337.52 compared to 65,056.39 recorded at the close of the previous trading day; indicating a YTD return of +25.53%.
Market capitalization decreased for the day by N383 billion to N35.012 trillion from N35.395 trillion recorded at the close of the previous trading day, while the market turnover increased to N6.474 billion from N5.345 billion recorded at the close of the previous trading day.
At the end of the first weekday of trading on the Nigerian Stock Exchange (NGX), a total of 673,424,564 shares in 9,788 deals, corresponding to a market value of NGN 6,474,469,913.60, were traded.
Compared with the previous NGX trading day (Friday, July 28), today’s data shows 46% improvement in volume, 21% improvement in turnover, and 22% improvement in deals. The current market capitalization of the Nigerian Stock Exchange is NGN 35 trillion.
In the aggregate, 119 NGX listed equities participated in trading, ending with 19 gainers and 49 losers. Beta Glass Company led the gainers with 10% share price appreciation closing at NGN 38.50 per share, followed by AXA Mansard Insurance (+10%), Linkage Assurance (+10%) and Sunu Assurances Nigeria (+10%).
On the losing side, Dangote Sugar Refinery came out last with an end-of-day price depreciation of 10% at NGN 27.00 per share, followed by Ecobank Transnational (-10%), Livestock Feeds (-10%) and NPF Microfinance Bank (-10%).
Abbey Mortgage Bank recorded the highest volume of 112 million traded shares, followed by Fidelity Bank (58.6m), Union Bank Nigeria (51.1m) and FCMB Group (49.4m).
Regarding the performance of NGX market indices, the benchmark NGX All-Share Index (ASI) declined 718.87 (-1.1%) points to close at 64,337.52, representing a 1-week loss of 1.43%, a 4-week gain of 3.86%, and an overall year-to-date gain of 25.53%.
Other remarkable indices that performed were the NGX Top 50 Index (-1.06%; -3.44% 1WK; +40.93% YTD), NGX Top 30 Index (-1.1%; -1.45% 1WK; +27.22% YTD), NGX Insurance Index (+1.58%; -0.27% 1WK; +49.54% YTD), NGX Oil & Gas Index (+0.4%; +9.72% 1WK; +101.4% YTD), NGX Industrial Index (-0.03%; -0.37% 1WK; +18.36% YTD), and NGX Main Board Index (-0.64%; -1.32% 1WK; +19.18% YTD).
