NGX Relapses As Market Cap Sheds N137.2bn

The equities market of the Nigerian Exchange Limited (NGX) on Tuesday relapsed from the previous day gain, as market capitalization shed N137.17billion to close at N28.02 trillion.

At the close of the second trading day of the week, the equities market benchmark index declined by 0.49 per cent to close at 51,448.53 points.

Although, the market’s loss was primarily driven by the decline in telco heavyweight, AIRTELAFRI (-4.29%), as a result, the year-to-date (YTD) return fell to 0.39 per cent.

Analysis of the market activities showed trade turnover settled higher relative to the previous session with the value of transactions up by 182.12 per cent.

A total of 337.27million shares valued at N8.20billion were exchanged in 4,184 deals. FBNH (+0.00%) led the volume chart with 151.39million units traded while BUACEMENT (+0.00%) led the value chart in deals worth N2.92billion.

Market breadth closed positive at a 1.23-to-1 ratio with advancing issues outnumbering declining ones.

MBENEFIT (+7.14%) led fifteen (15) others on the gainer’s table, while NEM (-10.00%) topped twelve (12) others on the laggard’s log.