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Home Markets Commodities

NGX closes negative as market cap lost N858 billion

Zainab Iwayemi by Zainab Iwayemi
October 6, 2022
in Commodities, Equities, Markets, Stock Market
Obehi Ikhaghe, NGX
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The Nigerian Bourse (NGX) closed negative amidst buy-interests and sell-offs as bears dominated proceedings, weighing down the broad market by 323 basis points. The All-share Index (ASI) depreciated by 3.23% to close at 47,260.89 points.  

In the same vein, Market Capitalization declined by N858 billion to close at N25.74 trillion while the Year-to-Date (YtD) returns settled at 10.64%. The stock market has advanced by 4,544.45 basis points since the start of the year.   

The SWOOTs capitalization closed negative driven by changes in MTN and AIRTEL and at the end of the trading session. 

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Market breadth closed negative as GEREGU led 14 gainers, and 23 Losers topped by AIRTELAFRI at the end of today’s session. 

On a sectoral level, 4 of the 5 major indices of the Nigerian Exchange closed negative with NGX Insurance, Banking, Industrial, and Consumer goods indices were down 0.31%, 0.86, 0.32 and 0.11% respectively while NGX Oil and Gas index was flat. 

 

Market Indices  

NGX ASI: 47,260.89 points  

Previous ASI: 48,836.70 points  

% Day Change: 3.23%  

% Y-t-D: 10.64% 

Market Cap (N): 26.60 trillion  

Volume:  140,670,760 

Value (N): 2.53 billion  

Deals: 4,371 

 

NGX Top ASI gainers    

GEREGU  up +9.91% to close at N120.90 

LIVESTOCK up +9.80% to close at N1.12 

CUTIX up +8.00% to close at N2.16 

CORNERST up +3.92% to close at N0.53 

FCMB up +3.83% to close at N3.25 

 

NGX Top ASI losers   

AIRTELAFRI down – 10.00% to close at N1800 

PRESCO down – 9.99% to close at N128.35 

OKOMUOIL down – 9.98% to close at N169.50 

HONYFLOUR down – 8.62% to close at N2.11 

REDSTARS down – 8.59% to close at N2.12 

 

Top 3 by Volume   

GTCO – 27,729,958 

STERLNBANK – 25,429,504 

ZENITHBANK – 14,400,498 

 

Top 3 by Value  

GEREGU – 586,759,777.20 

GTCO – 471,484,538.55 

ZENITHBANK – N276,453,117.5 

 


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Tags: Airtel Nigeria NewsMTNNGX
Zainab Iwayemi

Zainab Iwayemi

For further inquiries about this article, contact: Email: zainab.iwayemi@nairametrics.com Twitter: @IwayemiZainab LinkedIn: Zainab Iwayemi

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Comments 2

  1. Ifeoma Aniagwu says:
    October 7, 2022 at 4:10 am

    The gain from Geregu.and few others assisted in moderating the loss. This is expected as investors restructure their portfolio to take advantage of rising interest rates on financial instruments. No Analyst can say with confidence if any listed stock can give 4.2/4.65 percent price gain in three months. It is that bad. But I can put funds in a savings account and earn at least the minimum savings interest rate as specified by CBN. The end to the losses is not in sight. The market would be left with core investors, dividend earning investors and those investors that have forgotten they own shares as a result of the 2008 meltdown among others
    The banks are not helping matters especially as they continue to cheat savers. Or how do you explain a flattened savings interest rate or a situation where minimum savings rate is above the minimum fixed deposit rate?. If banks are my preference then my decision would be to put my funds in savings account or better still invest in any of these money market funds providing higher returns.
    All hopes not lost on NGX as we expect some very few Christmas bonuses in interim dividends soon. But most Genz investors are not swayed by dividends but price gains. Herein lies the reasons why economic fundamentals need to be strong

    Reply
  2. Derin olopoenoa says:
    October 7, 2022 at 7:08 am

    More losses to come. No end in sight. Year end index gain likely at 8-9percent. Double digit is an impossible dream as economic fundamentals are weak. Capital market does not exist or work in isolation

    Reply

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