Wednesday, April 17, 2024

NGX: Market capitalisation dips by N38 billion

The selloffs were in stocks of Unity Bank, FCMB, Zenith Bank, NPF Microfinance Bank (NPFMFB), Caverton and Transcorp.

• March 28, 2022
NGX
NGX building used to illustrate the story

Transactions on the equities market on Monday closed negative, due to selloffs in some stocks mainly in the banking industry.

The selloffs were in stocks of Unity Bank, FCMB, Zenith Bank, NPF Microfinance Bank (NPFMFB), Caverton and Transcorp.

The NGX-ASI dropped by 0.15 per cent to close at 46,893.86 points from 46,964.23 points recorded on Friday, representing Year-to-Date of 9.78 per cent decrease.

Similarly, the market capitalisation lost N38 billion to close at N25.273 trillion from N25.311 trillion traded on Friday.

A breakdown of the price movement chart shows 18 gainers against 16 losers.

Beta Glass led the gainers’ table in percentage terms increasing by 9.92 per cent to N52.95 per share.

PZ followed with 9.68 per cent to close at N9.30, while Livestock Feeds added 9.03 per cent to close at N1.55 per share.

Linkage Assurance gained eight per cent to 50k, while Jaiz Bank was up by 6.06 per cent to close at 66k per share.

Niger Insurance increased by 4.76 per cent to 21k per share, while Multiverse gained 5.35 per cent to close at 23k per share.

Conversely, Learn Africa shed 9.68 per cent to close at N2.17, while Unity Bank trailed with 8.16 per cent to close at 49k per share.

Caverton dipped 7.09 per cent to close at N1.27, while First City Monument Bank dropped 6.89 per cent to N3.34 per share.

Similarly, Transcorp was down by 6.54 per cent to close at N1.07 per share.

Japaul Gold and NPFMFB shed 6.06 per cent and 5.98 per cent  to close at 33k and N2.51 respectively.

Also, the volume of shares traded increased by 103.2 per cent with an exchange of  359.89 million shares valued at N2.61 billion in 5,163 deals.

This was against a total of 177.09 million shares worth N4.18 billion in 3,873 deals achieved on Friday.

However, the total volume traded rose by 11.00 per cent to 1.289 billion shares worth N7.919 billion, and traded in 4,735 deals. 

Transactions in the shares of Transcorp topped the activity chart with 92 million shares valued at N92.76 million.

Sterling Bank followed with 50.738 million shares worth N76.62 million, while Fidelity Bank traded 46.68 million shares valued at N153.61 million.

Linkage Assurance traded 30.51 million shares valued at N15.27 million, while Access Corporation transacted 15.46 million shares worth N156.40 million.

(NAN)

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