NGX Extends Negative Outing By N25bn Amid Low Turnover

The equities market of the Nigerian Exchange Limited (NGX) on Wednesday extended its negative outing by N25billion to close the third trading session of the week in the red region, amidst low turnover.

At the close of yesterday’s trading session, the NGX market capitalization stood at N26.753trillion, representing a 0.09 per cent compared to the N26.778trillion it stood at the end of the previous trading session as investors’ net worth waned by N25 billion at the session.

Also, the NGX ASI shed 9bp to peg the All-Share-Index at 49,635.75 as against its previous close of 49,644.42.

This outing fixed both the month-to-date and year-to-date performance of the All-Share Index to -0.40 per cent and 16.20 per cent from their previous close of -0.38 per cent and 16.22 per cent respectively.

Bears’ and bears’ camps wrangled over the market breadth with 16 counters apices in both the losers’ and gainers’ charts.

PZ gained 9.76 per cent to become the best-performing stock in the session. It is flanked by NPFMCRFBK, UACN, ABCTRANS, and JAPAULGOLD as they populated the top five gainers’ chart. From the rear of the chart CHAMS, FCMB, MCNICHOLS, FTNCOCOA, and CORNERST populated the top five losers’ chart.

Key sectoral indices closed in the same direction as the ASI, save NGXCG and NGX CNSMRGDS sectors which gained 0.03% and 0.10 per cent respectively, while NGX INDUSTR and NGX ASEM sectors closed flat.

Market activity as measured by both volume and value of trades waned in the session with daily traded volume standing at 128.941mn units, representing a 7.23% drop from a volume of 138.991mn units traded in the previous session.

The value of those traded stocks hand dipped by 38.79% in the session to stand at N1.668bn as against a value of N2.725bn recorded in the previous trading session.

The banking sector dominated the volume charts with STERLNBANK as the top traded stock by volume for the trading session. This is followed by ZENITHBANK, GTCO, ETI, and FIDELITYBK to complete the list of the five most traded stocks by volume.