Tuesday, December 5, 2023

NGX: Market capitalisation loses N226 billion

Traded volume declined by 28 per cent with 176 million units traded and value traded fell 19 per cent to N2.2 billion.

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

The equity market started the week and the month on a weak note due to sell-off in some largely capitalised, making capital capitalisation to drop by N226.45 billion.  

The negative performance was driven by BUA Cement, Neimeith, Fidelity Bank, International Breweries, among others.

Consequently, the market capitalisation closed at N26.936 trillion from the N27.163 recorded on Friday.

Also, the All-Share Index lost 0.83 per cent to close at 49,950.32 points compared to 49,667.14 recorded on Friday.

The year-to-date (YTD) return fell to 16.93 per cent.

Similarly, traded volume declined by 28 per cent with 176 million units traded and value traded fell 19 per cent to N2.2 billion. 

However, market breadth was  positive as 21 stocks gained and 14 declined.  

Caverton Offshore Support Group and Courtville Business Solutions led the gainers’ chart in percentage terms by 10 per cent to close at N1.10  and 44k per share, respectively. 

Champion Breweries followed with a gain of  9.59 per cent to close at  N4, while Unity Bank rose by 9.30 per cent to close at 47k per share.

Livestock also went up by 8.70 per cent each to close at N1.25.

On the other hand, Bua Cement led the losers’ chart in percentage terms by 9.96 per cent each to close at N62.40  per share. 

McNichols Consolidated  shed 9.89 per cent to close at 82k per share.

Neimeth International Pharmaceuticals also lost 9.68 per cent to close at N1.40 per share, while International Breweries lost 6.54 per cent to close at N5 per share. 

Meyer & Baker declined by 6.42 per cent to close at N3.35 per share. 

Analysis of the market activities showed trade turnover settled lower relative to the previous session, with the value of transactions reducing by 19.21 per cent. 

A total of 176.05 million units of  shares valued at N2.27 billion. 

Transactions in the shares of Guaranty Trust Holding Company (GTCO) topped the most volume chart with 21.37 million shares valued N426.8 million.

Zenith Bank followed with 20.452 million shares worth N429.28 million, while AccessCorp traded 16.79 million shares valued N149.67 million. 

First Bank of Nigeria (FBNH) traded 14.31 million shares valued N153.13 million, while United Bank for Africa transacted 14.26 million shares worth N100.53 million. 


We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.

More from Peoples Gazette

Katsina State


Katsina youths pledge to deliver over 2 million votes to Atiku

“Katsina State is Atiku’s political base because it is his second home.”

Chief of Army Staff (COAS), Lt-General Taoreed Lagbaja [Photo Shettima]


Angry tweeps attack army for another ‘mistake’ bombing innocent villagers

“You bombed hundreds of innocent people just last night in Kaduna.’’

Manuel Rocha


Ex-U.S. ambassador to Bolivia arraigned over allegation of spying for Cuba  

Mr Rocha was accused of serving as an illegal agent of a foreign government

President Bola Tinubu

Heading 2

Tinubu orders probe into Kaduna village bombing

“President Tinubu describes the incident as unfortunate, disturbing, and painful.’’

Adamawa State


Gender-based violence cases decreasing in Adamawa: Official

“If we do not hear the voices of victims, the perpetrators will continue in their act.’’

Chief of Defence Staff, Gen. Christopher Musa


Why military launched drone attack on Kaduna community: Defence qtrs

“The Nigerian military does its best at all times to distinguish between civilians and terrorists.’’