In the latest trading session, the NGX All-Share Index extended its downward trend, shedding 445.24 points to settle at 103,736.08 points.
This marked a decrease from the prior close of 104,181.32 points. Concurrently, the total market capitalization witnessed a substantial drop of N251.74 billion, concluding at N58.653 trillion, reflecting a 0.43% dip from the preceding value of N59.905 trillion.
Persisting for the third straight day since April’s start, the market downturn is attributed to investor apprehension towards the central bank’s recapitalization directives.
The day’s losses were predominantly driven by the poor performance of key financial institutions within the SWOOT sector, coupled with a downturn in MTNN’s share price.
Leading the pack of 23 gainers, MORISON’s stock price soared by 9.84%, whereas CILEASING experienced a notable decline, with its shares plummeting by 9.79% among the 26 losers.
ZENITHBANK emerged as the session’s most traded stock in volume and dominated in value traded. Meanwhile, the market’s transaction volume contracted to 8,908 deals, a noticeable decrease from the 10,364 transactions tallied in the last session.
Market Indices
- NGX All-Share Index: 103,736.08 points
- Previous ASI: 104,181.32 points
- % Day Change: -0.43%
- Day’s Lowest: 103,736.08 points
- Day’s Highest: 104,181.32 points
- % YTD: +39.73% (Previous: +39.33%)
- Market Cap: N58.653 trillion
- Volume Traded: 487.728 million units
- Value: N15.640 billion
- Deals: 8,908
Top Gainers
- MORISON: +9.84% to close at N2.12
- SCOA: +9.77% to close at N2.36
- INTENEGINS: +9.72% to close at N1.58
- NEM: +9.50% to close at N9.80
- TIP: +8.70% to close at N2.50
Top Losers
- CILEASING: -9.79% to close at N3.50
- MBENEFIT: -8.57% to close at N0.64
- TANTALIZER: -7.89% to close at N0.35
- UNITYBNK: -7.39% to close at N2.13
- JAIZBANK: -7.23% to close at N2.18
Top Traded Stocks
In the latest trading session, the market experienced a paradoxical situation where overall trading activity declined, yet there was a significant surge in the volume of shares traded, with an increase of 82.7 million shares. This jump, amounting to a 20.42% rise, brought the total traded volume to 487.73 million units, surpassing the previous session’s 405.03 million shares.
Leading the charge in trading volume was ZENITHBANK, with a remarkable 161.68 million units, followed by GTCO with 54.36 million units. Notable performances were also seen in UBA with 47.82 million units, ACCESSCORP with 40.88 million, and TRANSCORP with 28.35 million units.
In terms of the value of stocks traded, there was an impressive increase of 75.57%, which equates to an addition of N6.73 billion, culminating in a total trading value of N15.64 billion for the session.
This was a significant increase from the N8.91 billion recorded in the previous session. ZENITHBANK again led the pack with trades worth N7.03 billion, GTCO followed with N2.73 billion, and other noteworthy trades were made by UBA at N1.30 billion, ACCESSCORP at N950.44 million, and TRANSPOWER at N449.57 million.
SWOOT and FUGAZ Update
Today’s financial update revealed a downturn in the SWOOT group’s earnings, with significant share price declines within its banking division. Specifically, GTCO, FBN Holdings, and ZENITHBANK experienced drops of 6.49%, 3.32%, and 1.93%, respectively. Additionally, telecommunications leader MTNN saw a 1.29% decrease in market value.
In contrast, several companies demonstrated market stability, maintaining their share prices amidst fluctuations. These include AIRTELAFRI, BUACEMENT, BUAFOODS, DANGCEM, GEREGU, SEPLAT, TRANSCOHOT, and TRANSPOWER.
Concluding the day, the Nigerian stock market ended on a downturn, attributed to the faltering performance of prominent banking institutions. GTCO, ACCESS HOLDINGS, UBA, FBNH, and ZENITH BANK were among those reporting losses, with their share prices falling by 6.49%, 3.97%, 3.64%, 3.32%, and 1.93%, respectively.
