Friday, December 2, 2022

Stock market declines marginally by 0.02%

Sell-offs in large and small stocks, particularly WAPCO, drove the negative performance of the market.

• November 15, 2022
Nigerian Exchange
Nigerian Exchange [Photo Creadit: Business Live Nigeria]

The market capitalisation of the Nigerian Exchange Ltd. (NGX) on Tuesday dropped marginally by N5 billion or 0.02 per cent to close at N23.861 trillion from N23.866 trillion on Monday.

Similarly, the All-Share Index (ASI) dipped by 9.86 points or 0.02 per cent, to close at 43,808.25 as against 43,818.12 recorded on Monday.

Sell-offs in large and small stocks, particularly WAPCO, drove the negative performance of the market.

Consequently, the year-to-date (YTD) return fell to 2.56 per cent.

Analysis of today’s market activities showed trade turnover settled lower with the value of transactions down by 53.20 per cent.

A total of 103.47 million shares valued at N1.19 billion were exchanged in 3,045 deals.

However, market breadth closed positive with 12 stocks on the gainers’ table, while 19 others were on the laggard’s log.

Computer Warehouse Group and Learn Africa Press topped the day’s gainers’ table with 10 per cent each to close at 88k N1.65 per share, respectively.

Caverton Offshore Support Group followed with a gain of 8.75 per cent to close at 39k, while Prestige Insurance grew by 8.33 per cent to close at 29k per share.

Also, JapaulGold and Venture appreciated by 7.41 cent to close N1.25, per share.

On the flip side, WAPCO led the losers with a drop of 9.66 per cent to close at N20.10 per share while Royal Exchange shed 9.41 per cent to close at 77k per share.

Conerstone Insurance shed 9.09 per cent to close at 44k kobo per share.

UPDC Real Estate Investment Trust dropped by 8.93 per cent to close at N2.55, while FTNCocoa Processors fell by 8.82 per cent to close at 31k, per share.


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