The Nigerian Exchange (NGX) concluded the trading session on a negative note, as selling pressure overshadowed buying interest, leading to a decline of 336.26 points.
The market closed at 96,537.48 points, marking a 0.35% drop from the previous level of 96,873.74 points, reflecting bearish investor sentiment.
Market capitalization also experienced a reduction, falling by N193.16 billion to settle at N55.45 trillion, down from the previous value of N55.65 trillion.
The negative trajectory was largely driven by the underperformance of key financial firms in the SWOOT sector, with OANDO’s 10% share price decline further contributing to the downturn.
This follows OANDO’s remarkable entry into the trillion-naira stock category in the previous day’s trading.
Among the advancing stocks, DAARCOMM stood out, recording a notable 10% increase in its share price, outperforming 21 other gainers.
In contrast, OANDO led the 33 declining stocks, suffering a 10% decrease in value. OANDO also dominated the trading volumes and values, despite an overall reduction in both transaction volumes and values for the day.
The session concluded with 12,039 deals, a decrease from the previous session’s 12,532 transactions.
Market Indices
Current ASI: 96,537.48 points
Previous ASI: 96,873.74 points
% Day Change: -0.35%
% YTD: +29.11%
Market Cap: N55.45 trillion
Volume Traded: 389.23 million
Value: N8.18 billion
Deals: 12,039
NGX Top 5 Gainers
DAARCOMM up 10% to close at N0.66
IMG up 9.72% to close at N35.00
DEAPCAP up 9.52% to close at N1.15
TANTALIZER up 8.47% to close at N0.64
THOMASWY up 8.28% to close at N1.57
NGX Top 5 Losers
OANDO down 10% to close at N81.90
TIP down 9.95% to close at N1.81
RTBRISCOE down 9.72% to close at N2.60
NSLTECH down 9.63% to close at N0.59
OMATEK down 9.09% to close at N0.70
Top Traded Stocks
- The market witnessed a notable contraction in trading volumes, with a significant 17.71% decline, as 83.77 million fewer shares were exchanged, bringing the total to approximately 389.23 million shares, down from 473 million in the previous session.
- OANDO led the trading volumes with 37.18 million shares, followed closely by UNIVINSURE at 33.71 million shares. Other notable contributors included TRANSCORP with 29.02 million shares, FTNCOCOA at 22.74 million, and GTCO at 21.95 million shares.
- On the value front, the market recorded a 21.43% drop in trade value, totalling N8.18 billion, down from the previous session’s N10.41 billion, marking a decrease of N2.23 billion.
- OANDO also dominated in terms of trade value, posting N3.099 billion in transactions, followed by GTCO with N1.01 billion, ZENITHBANK at N411.11 million, CONOIL with N401.03 million, and ETERNA at N322.40 million.
SWOOT and FUGAZ Update
- The Nigerian stock market ended the trading day on a negative note, largely impacted by a 10% decline in OANDO’s share price, following its recent inclusion in the SWOOT group. Zenith Bank also faced a 2.35% drop in stock value, while GTCO recorded a 0.43% decrease.
- Despite the market’s volatility, several companies, including AIRTELAFRICA, BUACEMENT, BUAFOODS, DANGCEMENT, GEREGU, MTNN, SEPLAT, and TRANSPOWER, exhibited resilience by maintaining stable stock prices.
- In the banking sector, FBN Holding stood out as the only firm to remain unaffected by the downward trend, while Zenith Bank, UBA, Access Holdings, and GTCO experienced declines of 2.35%, 2.26%, 2.05%, and 0.43%, respectively.
