Stock market
NGX: Investors lose N391.32bn as ASI drops by -1.77%, erases previous day’s gain
Equities market closed on a negative note, as NGXASI depreciated by -1.77% to close at 41,685.22 basis points as against +0.99% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +3.51%.
Market breadth closed positive as Skyway Aviation Handling Co led 22 Gainers as against 15 Losers topped by DANGCEM at the end of today’s session – an improved performance when compared with previous outlook.
Market turnover closes negative as volume moved down by -27.13% as against +1.61% uptick recorded in the previous session. FBNH, ACCESS and STERLNBANK were the most active to boost market turnover. FBNH and ZENITHBANK topped market value list.
At the end of today’s trading session on the NGX, a total of 473,467,437 shares in 3,874 deals, corresponding to a market value of NGN 5,175,561,290.56, were traded. Compared with the previous NGX trading day (Wednesday, December 8), today’s data shows 27% decline in volume, 28% decline in turnover, but 3% improvement in deals. The current market capitalization of the Nigerian Stock Exchange is NGN 21.8 trillion.
In the aggregate, 105 NGX equities participated in trading, ending with 22 gainers and 15 losers. Skyway Aviation Handling Co. led the gainers with 9.66% share price appreciation closing at NGN 4.88 per share, followed by Oando (+8.83%), Wapic Insurance (+8.51%) and Mutual Benefits Assurance (+8.33%). On the losing side, Dangote Cement came out last with an end-of-day price depreciation of 10% at NGN 252.00 per share, followed by UAC of Nigeria (UACN) (-10%), Neimeth International Pharma (-6.86%) and May & Baker Nigeria (-6.46%). FBN Holdings recorded the highest volume of 229 million traded shares, followed by Access Bank (45.6m), Sterling Bank (37.9m) and Unity Bank (26.5m).
Regarding the performance of NGX market indices, the benchmark NGX All-Share Index (ASI) declined 749.94 (-1.77%) points to close at 41,685.22, representing a 1-week loss of 1.33%, a 4-week loss of 4.28%, but an overall year-to-date gain of 3.51%. Other remarkable indices that performed were the NGX Top 30 Index (-1.87%; -1.54% 1WK; +1.93% YTD), NGX Top 50 Index (-1.97%; -2.16% 1WK; +1.11% YTD), NGX Premium Index (-4.05%; -3.36% 1WK; +13.86% YTD), NGX Oil & Gas Index (+1.7%; -0.03% 1WK; +53.91% YTD), NGX Banking Index (+1.68%; +3.22% 1WK; +0.26% YTD), and NGX Insurance Index (+1.11%; +3.09% 1WK; +0.55% YTD).
