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NGX closes downward, loses N83bn

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The Nigerian Exchange Ltd., (NGX) closed on a bearish note on Monday, causing market capitalisation to dip by N83 billion, to close at N28.542 trillion from N28.625 trillion recorded on the last trading day.

The All-Share Index (ASI) also declined to stand at 52,944.09 points or 0.29 per cent, compared to the 53,098.46 points recorded on Friday.

The market’s negative performance was driven by price depreciation in large and medium capitalised stocks, as 27 stocks declined relative to 20 gainers.

McNichols recorded the highest price gain of 9.70 per cent to close at N1.47 per share.

NNFM followed with a gain of 9.35 per cent to close at N10.90 per share, while Transcorp rose by 8.53 per cent to close at N1.40 per share.

WAPIC rose by 7.14 per cent to close at 45k while CHIPlc gained 7.02 per cent to close at 61k per share.

On the other hand, Champion led the losers’ chart by 9.84 per cent to close at N3.94 per share.

Glaxosmith and International Breweries depreciated by 9.49 per cent and 9.09 per cent each to close at N7.15 and N8 per share, respectively.

Neimeth followed with a decline of 8.33per cent to close at N1.76 per share while WAPIC lost 8.28 per cent to close at N28.80 per share.

The total volume of stocks traded was 374.18 million units, valued N4.96 billion, and exchanged in 6,854 deals.

Transactions in the shares of Transcorp topped the volume chart with 88.59 million shares valued at N118.99 million.

Jaiz Bank followed with 87.42 million shares worth N77.86 million, while ACCESSCORP traded 28.74 million shares valued at N278.56 million.

International Breweries traded 16.21 million shares valued at N130.24 million, while Ikeja Hotel transacted 11.38 million shares valued at N12.63 million.

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Olawunmi Ashafa

NEWSVERGE, published by The Verge Communications is an online community of international news portal and social advocates dedicated to bringing you commentaries, features, news reports from a Nigerian-African perspective. A unique organization, founded in the spirit of Article 19 of the Universal Declaration of Human Rights, comprising of ordinary people with an overriding commitment to seeking the truth and publishing it without fear or favour. The Verge Communications is fully registered with the Corporate Affairs Commission of the Federal Republic of Nigeria as a corporate organization.

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