The equities market experienced a downturn on Thursday, as the Nigerian Stock Exchange (NSE) lost N111 billion in market capitalization.
This indicates negative sentiment among investors and low demand for stocks.
The market capitalization of the Nigerian Stock Exchange dipped by 0.31% on Thursday, closing at N35,635 trillion from the previous day’s closing of N35,746 trillion.
The latest trading session saw a drop of 0.31% in the NSE All-Share Index (ASI), which settled at 65,482.91 points. The ASI lost 204.25 points from the previous day’s closing of 65,687.16 points.
Market Indices
Below are market indices for today’s trading session:
NGX ASI: 65,482.91 points
% Day Change: -0.31%
% YTD: +27.77%
Market Cap: N35,635 trillion
Volume Traded: 509.247 million
Value: N4.79 billion
Deals: 8,070
How Stocks Performed
LASACO led the gainers’ chart with a 10% increase in its share price, while JAPAULGOLD suffered the biggest loss of 9.91%. JAPAULGOLD also recorded the highest volume of shares traded at the close of the market.
The market witnessed an increase in trading activity, with the number of deals reaching 8,070, compared to 7,345 in the previous session.
Top Gainers and Top Losers
LASACO achieved a significant profit in the last quarter, which was reflected in a 10% rise in its stock price. MULTIVERSE and SKYAVN also performed well as their stocks appreciate by 9.96% and 9.91% respectively.
The market’s performance suffered a sharp decline due to the plummeting share prices of some major companies. JAPAULGOLD, CADBURY and FTNCOCOA recorded the highest losses of 9.91%, 9.80% and 9.40% respectively.
Top Traded Stocks
Trading activity in the Nigerian stock market declined on Thursday, as the total value of shares traded fell by 32.9% to N4.79 billion. This was a decrease of N2.35 billion from the previous day’s value of N7.14 billion.
The trading activity was subdued, with a 1.76% decline in the number of shares exchanged, closing at 509.25 million shares. This was lower than the previous day’s volume of 500.43 million shares.
The most active stocks in the market today were JAPAULGOLD, UBA and TRANSCORP. JAPAULGOLD led the activity with a volume of 115.69 million shares, followed by UBA with 40.43 million shares and TRANSCORP with 33.49 million shares.
The trading activity on the Nigerian Stock Exchange (NSE) on Thursday was dominated by UBA, which accounted for the highest value of shares traded.
According to the NSE daily report, UBA traded 40.4 million shares worth N595.92 million. FIDELITYBK followed with 31.8 million shares valued at N271.17 million, while FCMB came third with 34.9 million shares worth N237.69 million.
SWOOTs Watch
The trading session today ended with a slight profit for the banking sector, as ZENITH BANK and GTCO boosted their earnings by 0.86% and 0.13% respectively. However, MTN NIGERIA and UBA experienced a decline of 3.44% and 0.67% in their share price, which negatively affected the market performance.
AIRTEL AFRICA, DANGOTE CEMENT, BUA CEMENT and BUA FOODS remained unchanged at the end of today’s trading session, reflecting a stable market performance for these companies.
FUGAZ Update
Despite the bearish sentiment in the market, the Nigerian banking sector demonstrated its strength in the previous trading session, with two of the leading banks posting gains in their share prices. ZENITH BANK topped the list with a 0.86% rise, followed by GTCO with 0.13%. FBNH, ACCESS HOLDINGS, UBA trailed behind with a drop of 4.87%, 4.72%, 0.67% in their share price respectively.