NGX falls 0.12% as ASI sheds points on subdued trading activity
February 22, 2024267 views0 comments
Business a.m
The Nigerian equities market saw a slight decline on Thursday, reversing some of the gains seen in the previous session. The benchmark index, the Nigerian Stock Exchange All-Share Index (NGX ASI), fell by 0.12 per cent to close at 101,239.10 points.
The sell-offs in UBA (-0.42%), ACCESSCORP (-2.55%), and STANBIC (-8.33%) offset investor interest in ZENITHBANK (+0.70%), GTCO (+2.46%), and FBNH (+1.05%), pushing the market into negative territory.
As a result of the market downturn, the All-Share Index’s year-to-date (YTD) return fell to 35.39 per cent, while the market capitalisation decreased by N67.45 billion, closing at N55.40 trillion.
Analysis of the day’s market activity showed that the value of transactions decreased by 24.54 per cent from the previous session, with a total of 253 million shares worth N4.94 billion changing hands in 7,248 deals. FBNH (+1.05%) was the most traded stock, with 31.86 million shares traded in deals worth N9.17 billion.
Market breadth was negative, with declining issues outnumbering advancing ones at a ratio of 1.42 to 1. The top decliner was DAARCOMM (-10.00%), which was joined by twenty-six (26) others on the list of losers. Meanwhile, SUNUASSUR (+10.00%) was the best performing stock, leading eighteen (18) others on the list of gainers