Onome Amuge
The Nigerian Exchange (NGX) sustains a market capitalisation loss of N148 billion, as sell pressures hit several key stocks, including BUA Cement and Conoil.
The negative sentiment had a ripple effect on key performance indicators, leading to a 0.25 percent drop in market values, while the All-Share Index (ASI) suffered a dip of 244.73 basis points, closing at 97,233.07.
Though the NGX experienced a dip in market capitalisation,, the overall trading activities in the equities market showed signs of improvement.
This is as the total volume and total value traded for the day increased by 18.02 percent and 4.08 percent, respectively, according to stockbrokers.
The market activity for the day was characterised by a healthy volume of transactions, with approximately 291.53 million units valued at N7,816.90 million exchanged across 7,931 deals.
FLOUR MILL, JOHN HOLT, and INTENEGINS drove the gains on the NGX, recording growth rates of 10 percent, 9.86 percent, and 9.85 percent, respectively.
Their share prices closed at N71.50, N7.02, and N1.45, representing a substantial increase from the previous closing prices of N65.00, N6.39, and N1.32 per share, respectively.
ABBEYBDS, ABCTRANS, and CONOIL, were the top price decliners on the NGX, recording losses in share prices of 9.77 percent, 9.45 percent, and 6.15 percent respectively.
The share prices closed at N2.40, N1.15, and N244.00, respectively, marking a substantial drop from the previous closing prices of N2.66, N1.27, and N260.00 per share.
Access Corporation emerged as the most traded stock by volume, accounting for 20.78 percent of the total volume, as it traded with 60 million shares in 466 deals.
This was followed by UBA which traded 17 million shares in 497 deals.
ZENITH BANK was third on the list, trading 16 million shares in 344 deals.
ACCESS CORP remained the market leader in terms of traded value, transacting stocks worth N1.5 billion across 466 deals.
OANDO followed closely behind with a traded value of N950 million across 1,202 deals.
ARADEL also made its mark on the NGX value index, trading shares worth N838 million across 392 deals.
