Tuesday, April 23, 2024

Transactions on NGX decline by 13.81%

Consequently, the market capitalisation shed N25 billion or 0.04 per cent to close at N59.095 trillion, as against N59,120 trillion recorded previously.

• April 2, 2024
STOCK MARKET
STOCK MARKET

The value of transactions on the stock market of the Nigerian Exchange Ltd.(NGX) went down by 13.81 per cent on Tuesday after two days of Easter break.

Analysis of the market activities showed trade turnover settled lower relative to the previous session.

As a result, 545.49 million shares valued at N14.61 billion were exchanged in 12,747 deals, as against 623.08 million shares valued at N16.95 billion exchanged in 10,257 deals traded on Thursday.

Meanwhile, Guaranty Trust Holding Company (GTCO) led the activity chart in volume and value with 84.65 million shares traded in value of 4.48 billion.

Access Corporation sold 68.89 million shares worth N1.73 billion, United Bank of Africa (UBA) traded 65.49 million shares valued at N1.83 billion.

Zenith Bank traded N62.59 million shares worth N2.77 billion, and Transnational Corporation transacted 27.43 million shares valued at N383.63 million.

Consequently, the market capitalisation shed N25 billion or 0.04 per cent to close at N59.095 trillion, as against N59,120 trillion recorded previously.

The All-Share Index also dropped 0.04 per cent or 44 points to settle at 104,518.14, compared to 104,562.06 posted in the previous session.

As a result, the Year-To-Date (YTD) return slipped to 39.78 per cent.

Losses in the shares of FBN Holdings, Stanbic IBTC, Transnational Corporation, and Julius Berger, among other top losers, dragged the market performance down.

However, market breadth closed positive with 23 gainers and 17 losers on the floor of the exchange.

On the gainers’ table, May and Baker Nigeria Plc, led by 10 per cent to close at N6.05, Ikeja Hotel gained 9.95 per cent to close at N7.07 per share.

Chams rose by 9.90 per cent to close at N2.11, Unity Bank went up by 9.66 per cent to close at N2.27, and AIICO Insurance grew by 9.65 per cent to close at N1.25 per share.

Conversely, UAC of Nigeria Plc led the losers’ table by 9.82 per cent to close at N12.40, followed by Julius Berger by 9.17 per cent to close at N59.95 per share.

ABC Transport trailed by 9.09 per cent to close at 70k, Universal Insurance declined by 7.69 per cent to close at 36k, while UPDC Real Estate Investment Trust dropped 6.67 per cent to close at N1.40 per share.

(NAN)

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