Thursday, September 29, 2022

Stock market remains bearish, indices down by 0.33%

The weak performance was as a result of continuous sell-offs in some large and medium stocks.

• September 23, 2022
Nigeria Exchange (NGX)
Nigeria Exchange (NGX)

Market capitalisation of the Nigerian Exchange Ltd. (NGX) again dropped by N89 billion or 0.33 per cent to close at N26.444 trillion on Friday compared with N26.533 trillion on Thursday.

Similarly, the All-Share Index (ASI) dropped by 163.72 points or 0.33 per cent to close at 49,026.62 from 49,190.34 recorded on Thursday.

The weak performance was as a result of continuous sell-offs in some large and medium stocks.

Market breadth closed negative as 22 stocks declined while 11 advanced.

Vitafoam led the gainers with 6.90 per cent to close at N22.45 per share.

This was followed by RT Briscoe with 6.06 per cent to close at 35k, while Access Holding gained by 6.02 per cent to close at N8.80 per share.

Also, Conerstone Insurance appreciated by 3.70 per cent to close at 56k and Fidelity Bank rose by three per cent to close at N3.78 per share.

On the other hand, CWG suffered a decline of 10 per cent to close at 81k per share.

Berger Paint followed with 9.85 per cent to close at N5.95 per share.

Eterna fell by 9.45 per cent to close at N5.75, while Sunu Assurance declined by 8.57 per cent to close 32k per share.

Also, Chams declined by 6.9 per cent to close at N27 per share.

Courteville Business Solutions recorded the highest volume of 27.68 million shares sold at N12.49 million.

NGX Group followed with N24.54 million shares traded at N417.39 million.

Zenith Bank transacted 20.83 million shares worth N416.75 million, while Transcorp sold 11.15 million shares valued at N11.59 million.

Jaiz Bank sold 10.85 million shares worth N8.66 million.

A total of 169.18 million shares valued at N3.19 billion were exchanged in 3,206 deals.

(NAN)

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