Friday, June 9, 2023

Market indices fall by 0.21% amid sustained sell pressure

Market breadth closed negative with 18 stocks on the laggards’s table, while 14 stocks gained.

• November 1, 2022
Nigeria Exchange (NGX)
Nigeria Exchange (NGX)

Trading activities on the Nigerian Exchange Ltd. (NGX) continued to decline as all indices fell by 0.21 per cent amid sustained sell pressure on some large and medium stocks.

Specifically, the market capitalisation shed N50 billion or 0.21 per cent, to close at N23.827 trillion as against N23,877 trillion recorded on Monday.

Also, the All Share Index (ASI) declined by 93.35 basis points or 0.21 per cent, to close at 43,745.73 from N43,839.08 posted at the previous session.

Consequently, the year-to-date (YTD) return dipped to 2.41 per cent.

Market breadth closed negative with 18 stocks on the laggards’s table, while 14 stocks gained.

NAHCO led the losers’ chart in percentage terms by 9.35 per cent to close at N6.20 per share.

Regency Alliance insurance followed with 4.35 per cent to close at 24k, while UPDC shed 4.21 per cent to close at 99k per share.

AIICO lost 3.64 per cent to close at 57k while LASACO shed 3.57 per cent to close at 87k per share.

Conversely, Julius Berger dominated the gainers’ chart in percentage terms with 9.46 per cent to close at N23.45 per share.

Seplat followed with 8.33 per cent to close at N1,100, while Chams rose by eight per cent to close at 23k per share.

Linkage Assurance garnered 7.69 per cent to close at 36k, while UACN  appreciated by 6.15 per cent to close at N8.40 per share.

Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 15.68 per cent.

A total of 172.87 million shares valued at N4.01 billion were exchanged in 4,110 deals.


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