Investors lose N326 billion on NGX
The equities market closed on a negative note on Tuesday, as the market capitalisation dropped by N326 billion, or 0.4 per cent.
Specifically, the market capitalisation closed at N89.198 trillion compared to the opening value of N89.524 trillion.
Similarly, the All-Share Index (ASI) declined by 568.62 points, or 0.4 per cent, ending the day at 140,929.60, down from 141,498.22 recorded on Monday.
The downturn was primarily driven by profit-taking in key stocks, including Dangote Sugar, Wema Bank, Secure Electronic Technology, Access Corporation, Aradel Holdings, and 30 others.
Also, the market breadth closed negative with 35 losers against 16 gainers.
Dangote Sugar led the decliners’ table, dropping by 10 per cent to close at N54. Wema Bank followed, falling by 8.27 per cent to settle at N18.85, while Secure Electronic Technology lost 6.25 per cent, closing at 75k per share.
Access Corporation dipped by 4.98 per cent, finishing at N24.80, and Aradel Holdings decreased by 4.76 per cent, ending the session at N560 per share.
Conversely, Thomas Wyatt Nigeria led the advancers’ table, increasing by 9.80 per cent, closing at N2.80, while Chellaram grew by 9.59 per cent, settling at N16 per share.
RT Briscoe gained by 9.50 per cent, closing at N3.29, and Custodian Investment rose by 9.40 per cent, ending the session at N48.30 per share.
Also, NGX Group soared by 6.99 per cent, closing at N58.95 per share.
A study of market activity revealed an increase in market volume and value, with a decline in the deals, as 759.1 million shares worth N25.7 billion were exchanged across 23,657 transactions.
This is compared to 488.5 million shares valued at N13.7 billion that were traded in 28,621 deals.
Meanwhile, Consolidated Hallmark Holdings topped the activity chart in volume, with 169.6 million shares worth N644.7 million.
Zenith Bank followed with 104.4 million shares valued at N6.9 billion, while FirstHoldCo transacted 100.9 million shares worth N3.2 billion.
Fidelity Bank sold 52.5 million shares valued at N1.1 billion, and GTCO traded 45 million shares worth N4.1 billion.
(NAN)
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