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NGX closes negative, indices drop by 0.13%



Trading on the Nigerian Exchange Ltd. (NGX) closed on Thursday with a loss of 0.13 per cent, ending a four-day bullish trend.

Specifically, market capitalisation lost N33 billion or 0.13 per cent to close at N26.343 trillion as against N26.376 trillion posted on Wednesday.

Also, the All-share index shed 61.35 points or 0.13 per cent to close at 48,426.49 from 48, 476.49 recorded on Wednesday.

The market’s weak performance was due to selloffs in stocks of MTN Nigeria, WAPCO and Guaranty Trust Holding Company (GTCO).

Consequently, the year-to-date (YTD) return fell to 13.22 per cent.

Market breadth closed positive as 12 stocks were on the leaders’ table, while eight were on the laggards’ log.

Chams led the gainers’ chart in percentage terms by 10 per cent to close at 24k per share.

R.T. Briscoe followed with 7.69 per cent to close at 28k, while PZ rose 5.50 per cent to close at N11.50 per share.

Livestock appreciated by 4.50 per cent to close at N1.16, while Ecobank Transnational Incorporated (ETI) garnered 2.80 per cent to close at N10.80 per share.

On the other hand, Capital Hotel dominated the losers’ chart in percentage terms with 9.80 per cent to close at N2.76 per share.

Honeywell Flour Mill followed with 9.09 per cent to close at N2.20, while WAPIC Assurance declined by 8.11 per cent to close at 34k per share.

ABC Transport lost by 7.41 per cent to close at 25k, while Cadbury depreciated by 4.69 per cent to close at 70k per share.

Market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 11.20 per cent.

A total of 148.16 million shares valued at N2.98 billion were exchanged in 3,391 deals

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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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