Massive selloffs trigger NGX’s first bearish performance in 20 days

For the first time since January 10, 2024, the NGX has closed in the bearish zone as the All-Share Index declined by 1.5% to close at 103,110.15 points, a decline of 1,567.82 from yesterday’s 104,674.67 points.

The bearish run was triggered by massive selloffs as 61 stocks recorded price losses compared to 7 that recorded gains. Investors also lost N857 billion as the market capitalization declined to N56.425 billion at the close of trading today.

In terms of trading volume, there was a 6% decline to 649.95 million units, from yesterday’s 689.93 million units. There was also a 57% decline in trading value to N11.09 billion, from yesterday’s N25.94 billion.

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Market Indices

NGX All-Share Index: 103,110.15 points
% Day Change: -1.50%
Day’s Lowest: 102,885.14 points
Day’s Highest: 104,706.12 points
% YTD: +37.90%
Market Cap: N56.43 trillion
Volume Traded: 649.95 million units
Value Traded: N11.09 billion

Top Gainers

UPDC: +8.11% to close at N2.00
GEREGU: +4.61% to close at N517.80
WEMABANK: +1.21% to close at N10.90
ELLAHLAKES: +0.99% to close at N3.05
UPDCREIT: +0.81% to close at N6.25
ETI: +0.38% to close at N26.60

Top Losers

NASCON: -10.00% to close at N68.40
ACCESSCORP: -10.00% to close at N25.20
STERLINGNG: -10.00% to close at N6.30
MANSARD: -10.00% to close at N5.85
CAVERTON: -10.00% to close at N1.80
LINKASSURE: -10.00% to close at N1.17

Top Traded Stocks

In terms of volume, JAPAULGOLD (-9.06%) led with 59.80 million units, followed by TRANSCORP (-9.94%) with 52.06 million units, ACCESSCORP (-10.00%) with 46.81 million units, UBA (-9.67%) with 44.55 million units, and OANDO (-9.78%) with 34.95 million units.

Concerning value, UBA (-9.67%) led with N1.23 billion, ACCESSCORP (-10.00%) with N1.21 billion, ZENITHBANK (-7.14%) with N1.09 billion, GTCO (-6.29%) with N779.61 million, and TRANSCORP (-9.94%) with N763.20 million.

SWOOT and FUGAZ Update

Trading sentiment was negative for stocks worth over N1 trillion, as ZENITHBANK (-7.14%) and GTCO (-6.29%) recorded price decline, while GEREGU (+4.61%) recorded a price gain.

ACCESSCORP (-10.00%), UBA (-9.67%), DANGSUGAR (-9.74%) and TRANSCOHOT (-1.42%) recorded price declines to send their market capitalization below the N1 trillion mark. Other members of the SWOOT category, AIRTELAFRI, BUAFOODS, BUACEMENT, DANGCEM, MTNN, and SEPLAT recorded no price changes.

FBNH declined by 9.4%.