The NGX All-Share Index wrapped up the trading week on a downward trajectory, shedding 298.41 points to close at 103,437.67 points, marking a decrease from the previous close of 103,736.08 points.
Concurrently, the total market capitalization saw a significant decline of N155.909 billion, settling at N58.498 trillion, reflecting a 0.29% dip from the preceding value of N58.653 trillion.
Since the start of trading activity in April, the market has sustained a continued downturn in performance. The ASI reached its highest level at 104,518.14 on the first trading day of the week, while the lowest point recorded was 103,437.67, the closing figure for the day.
The day’s losses were primarily driven by the lackluster performance of key financial institutions within the SWOOT sector, alongside a downturn in MTNN’s share price.
Among the 16 gainers, CUTIX’s stock price surged by 10%, while CWG experienced a notable decline, with its shares plummeting by 10% among the 30 losers.
ABBEYBDS emerged as the most traded stock in terms of volume for the session, while ZENITHBANK dominated in terms of value traded.
Meanwhile, the market’s transaction volume contracted to 8,527 deals, representing a marginal decrease from the 8,980 transactions recorded in the previous session.
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Market Indices
- NGX All-Share Index: 103,437.67 points
- Previous ASI: 103,736.08 points
- % Day Change: -0.29%
- Day’s Lowest: 103,736.08 points
- Day’s Highest: 103,412.33points
- % YTD: +38.33% (Previous: +39.73%)
- Market Cap: N58.498 trillion
- Volume Traded: 2.241 billion units
- Value: N18.729 billion
- Deals: 8,527
Top Gainers
- CUTIX: +10% to close at N3.19
- TANTALIZER: +8.57% to close at N0.38
- CILEASING: +5.71% to close at N3.70
- DANGSUGAR: +5.36% to close at N59.00
- RTBRISCOE: +5.36% to close at N0.59
Top Losers
- CWG: -10% to close at N6.75
- NSLTECH: -9.37% to close at N0.58
- OMATEK: -9.30% to close at N0.78
- SCOA: -8.90% to close at N2.15
- UPDC: -7.43% to close at N1.37
Top Traded Stocks
During the latest trading session, the market witnessed an intriguing scenario where overall trading activity decreased, yet there was a remarkable surge in the volume of shares traded, with an increase of 1.75 billion shares.
This surge, representing a staggering 359.58% rise, elevated the total traded volume to 2.24 billion units, surpassing the previous session’s 487.73 million shares.
ABBEYBDS led the way in trading volume, with an impressive 1.40 billion units, followed by TOURIST with 419.41 million units. Noteworthy performances were also observed in ZENITHBANK with 86.22 million units, GTCO with 58.45 million, and UBA with 51.38 million units.
In terms of the value of stocks traded, there was a noteworthy increase of 19.75%, adding N3.09 billion to reach a total trading value of N18.73 billion for the session, a significant rise from the N15.64 billion recorded in the previous session.
ZENITHBANK maintained its dominance with trades worth N3.66 billion, closely followed by ABBEYBDS with N3.45 billion. Other notable trades included GTCO at N2.81 billion, TOURIST at N1.89 million, and UBA at N1.35 million.
SWOOT and FUGAZ Update
In today’s financial update, the SWOOT group witnessed a downturn in earnings, marked by significant declines in share prices across its banking division. FBN Holdings, GTCO, and ZENITHBANK experienced drops of 4.62%, 2.04%, and 1.62%, respectively. Additionally, MTNN saw a decrease of 0.87% in market value.
On the flip side, several companies demonstrated resilience in the face of market fluctuations, maintaining stable share prices. These included AIRTELAFRI, BUACEMENT, BUAFOODS, DANGCEM, GEREGU, SEPLAT, TRANSCOHOT, and TRANSPOWER.
Wrapping up the day, the Nigerian stock market closed on a downtrend, mainly attributed to the underperformance of leading banking institutions.
FBN Holdings, GTCO, ACCESS Holdings, and ZENITH BANK were notable among the losers, witnessing share price declines of 4.62%, 2.04%, 1.74%, and 1.62%, respectively. However, UBA stood out with a gain of 0.75% in its share price.
