NGX Index Dips 0.21%, Sheds N127bn in Market Value

Samuel Mobolaji

At the close of trading on Thursday, the Nigerian Exchange Limited (NGX) extended its losing streak as the All-Share Index (ASI) declined by 0.21 per cent, leading to N127.34 billion drop in market capitalisation, which closed at N59.43 trillion.

Profit-taking in key stocks such as ARADEL (-10.00 per cent), GTCO (-3.85 per cent), and OANDO (-5.82 per cent) weighed down the market, overshadowing gains in TRANSPOWER (+9.68 per cent), ZENITHBANK (+0.13 per cent), and TRANSCOHOT (+7.78 per cent).

As a result, the year-to-date return fell to 31.17 per cent, while market capitalisation dropped by N127.34 billion, closing at N59.43 trillion.

The day’s trading activity saw a downturn in turnover, with transaction values decreasing by 28.74 per cent from the previous session.

Investors traded 239.31 million shares worth N6.41 billion in 7,318 deals, with STERLINGNG (+0.00 per cent) leading the volume chart at 42.79 million shares. ARADEL (-10.00 per cent) led the value chart with transactions amounting to N1.04 billion.

Despite the overall decline, market breadth remained positive at 1.87-to-1, with 27 gainers led by GOLDBREW (+10.00 per cent) outpacing 14 decliners, with ARADEL (-10.00 per cent) topping the laggards’ list.