The Nigerian Exchange Limited (NGX) yesterday recorded a pointy downturn as market capitalisation fell by N3.281 trillion from N165.415 trillion on the opening to N162.134 trillion on the shut of buying and selling.
The All-Share Index (ASI) additionally declined by 5,052.22 factors, representing a 1.98 % drop from 254,762.81 to 249,710.59 factors.
Selling strain was concentrated in heavyweight stocks plunge NGX by N3.281trn stocks like DANGCEM (-10.00%), PRESCO (-10.00%), UACN (-7.85%), HBMNG (-7.71%), ETERNA (-6.49%), NB (-2.50%), FIRSTHOLDCO (-2.40%), NGXGROUP (-2.24%), STANBIC (-0.85%), GTCO (-0.81%), OANDO (-0.32%), UBA (-0.24%), and TRANSCORP (-0.17%).
Market breadth closed destructive, with 20 equities advancing and 36 declining.
Meanwhile, HONYFLOUR traded above its 52-week excessive at N26.85, WAPIC hit its 52-week low of N2.00, whereas LASACO traded beneath its 52-week low at N1.60.
Trading exercise elevated, with whole quantity traded up 55.04% to 856.28 million, valued at N74.09bn throughout 33,540 offers.
FIRSTHOLDCO recorded the very best quantity and worth with 478.42 million models traded (55.87% of the day’s quantity), valued at N44.94bn (60.66% of the day’s worth).
ACCESSCORP and CHAMS accounted for 3.56% and three.34% of the whole quantity, respectively, whereas UACN and STANBIC adopted FIRSTHOLDCO in traded worth.
The losses reversed Wednesday’s constructive pattern, when the benchmark index superior by 0.19 % and market capitalisation gained N308 billion.
The destructive steadiness mirrored stronger promoting strain throughout the Exchange, significantly amongst some main stocks.
Several equities closed unchanged through the session, together with MTN Nigeria Communications, Seplat Energy Plc, Ellah Lakes Plc, Custodian Investment Plc and John Holt Plc, amongst others.
All six sector indices closed decrease, with industrial stocks recording the steepest decline.
Industrial stocks fell 7.14% to 11,707.38 factors; Insurance stocks declined 2.51% to 993.55 factors, whereas banking stocks shed 0.66% to 2,388.23 factors.
Commodity stocks dipped 0.41% to 1,851.36 factors, Consumer items stocks misplaced 0.14% to three,961.01 factors, whereas
Oil and gasoline stocks fell 0.04% to five,852.29 factors.
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