Equities Market continues on bearish trend as NGX-ASI declines by 1.75%.
Nigeria’s Equities Market closed negative on Wednesday by -1.75% as the NGX-ASI decreased to 64,167.39 from 65,309.65 recorded at the close of the previous trading day; indicating a YTD return of +25.20%.
Market capitalization decreased by N621.60 billion to N34.918 trillion from N35.540 trillion recorded at the close of the previous trading day, while the market turnover decreased to N2.616 billion from N4.472 billion recorded at the close of the previous trading day.
At the end of today’s trading session, a total of 238,039,943 shares in 6,001 deals, corresponding to a market value of NGN 2,616,839,876.23, were traded.
Compared with the previous NGX trading day (Tuesday, August 8), today’s data shows 25% decline in volume, 41% decline in turnover, and 6% decline in deals. The current market capitalization of the Nigerian Stock Exchange is NGN 34.9 trillion.
In the aggregate, 118 NGX listed equities participated in trading, ending with 24 gainers and 27 losers. Omatek Ventures led the gainers with 10% share price appreciation closing at NGN 0.33 per share, followed by Guinea Insurance (+10%), Tantalizers (+9.09%) and Abbey Mortgage Bank (+8.9%).
On the losing side, National Salt Company came out last with an end-of-day price depreciation of 10% at NGN 36.90 per share, followed by Multiverse Mining & Exploration (-10%), John Holt (-9.77%) and Dangote Cement (-9.09%). Sterling Bank recorded the highest volume of 32.7 million traded shares, followed by Fidelity Bank (21.1m), Universal Insurance Company (15.9m) and United Bank for Africa (12.3m).
Regarding the performance of NGX market indices, the benchmark NGX All-Share Index (ASI) declined 1,142.26 (-1.75%) points to close at 64,167.39, representing a 1-week loss of 0.16%, a 4-week gain of 0.19%, and an overall year-to-date gain of 25.2%.
Other remarkable indices that performed were the NGX Top 30 Index (-1.74%; -0.2% 1WK; +26.72% YTD), NGX Top 50 Index (-2.56%; -1% 1WK; +39.68% YTD), NGX Insurance Index (+1.12%; +2.96% 1WK; +55.48% YTD), NGX Main Board Index (+0.16%; +0.66% 1WK; +19.74% YTD), NGX Oil & Gas Index (-0.19%; -1.39% 1WK; +98.59% YTD), and NGX Consumer Goods Index (-0.27%; +2.65% 1WK; +49.83% YTD).
