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  • Business - Market Data
  • Updated: February 07, 2024

NGX All-Share Index dips 0.73 per cent to 103,659.81 points in bearish start

NGX All-Share Index dips 0.73 per cent to 103,659.81 points

In a negative start to the week, the Nigerian Exchange Group (NGX) saw the All-Share Index fall 0.73%, finishing at 103,659.81 points, down from Friday's 104,421.23.

Market breadth marginally backed bears, with 27 gainers and 28 losers.

MTN Nigeria (-5.52%), Access Holdings (-3.7%), and Transcorp (-4.22%) suffered significant losses.

This resulted in an N440 billion decrease in equities, lowering the market value to N56.72 trillion from N57.16 trillion.

Trading volume decreased by 10.8% to 841.55 million units, while value decreased by 17.7% to N19.33 billion.

The market displayed fluctuations from 103,648.33 points to 104,964.59 points. The year-to-date percentage remained positive at 38.63%.

Top gainers, including Cadbury, Maybaker, Meyer, Cornerst, Daarcomm, and Sovrenins, each recorded a significant 10.00% increase.

On the downside, Abbeybds, Livestock, FidelityBK, Jaizbank, MTNN, and Transcorp emerged as top losers, with Abbeybds experiencing a notable -9.70% decrease.

FBNH led in trading volume with 332.30 million units, followed by Transcorp with 49.97 million units. In terms of trading value, FBNH topped with N8.95 billion, followed by NB with N1.13 billion. Stocks worth over N1 trillion saw mixed trading, with Geregu gaining 8.26% while MTNN, GTCO, and ZENITHBANK faced losses.

Negative sentiments impacted tier-1 banks, with FBNH, UBA, and ACCESSCORP recording price losses during the session. The market dynamics underscore the ongoing volatility and challenges in the Nigerian stock market.

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