NGX ASI Dip Caused Equity Market A Loss Of N65.72 Billion

The domestic bourse lost buying momentum as GTCO, ACCESS, and UCAP forced a negative closure despite SEPLAT's outstanding performance.

Following the above, the all-share index fell by 0.26 percent to close at 47,360.76 basis points, which was down 121.94 bps from the previous day's close of 47,482.73 basis points.

Consequently, the ASI index fell by 121.97 bps from the 52 all-share index of 47,482.73 basis points.

The Month-to-Date (M-t-D) index declined by -0.07%, while the Week-to-Date (W-t-D) and Year-to-Date (Y-t-D) grew by +0.07% and +10.87%, respectively.

Furthermore, the volume of trade fell by 24.45% to close at 279.53 million units traded in 5,620 transactions, compared to the previous session's figure of 370.54 million units traded. The value of shares fell by 96.44% to close at NGN4.2 billion, compared to the previous session's figure of NGN7.85 billion traded.

However, the equity market lost NGN65.72 billion as its cap closed at NGN25,524.89 trillion as against its previous session position of NGN25,590.61 trillion.

TRANSCORP was the biggest player in the volume of trade, with 29.21 million units, while SEPLAT's huge rise in value made it the biggest player in the value of trade, with NGN4826.52 million worth of shares traded.

Some of the notable mentions include AIRTELAFRICA, with a share value of NGN491.72 million, and UCAP, with a volume trade of 28.34 million units.

As measured by market breadth, the mood in the market was negative as 15 stocks gained, while 32 stocks lost.

The most gains were made by ROYALEX (+10.00%), which closed trading at NGN1.65/unit, SEPLAT (+9.33%), which closed trading at NGN1034.00/unit, MULTIVERSE (+9.09%), which closed trading at NGN0.24/unit, and NEM (+8.38%), which closed trading at NGN4.14/unit, while NIGERINS (-10.00%), which closed trading at NGN0.27/unit, INTBREW (-9.73%), which closed trading at NGN5.10/unit, RTBRISCOE (-9.09%), which closed trading at NGN0.70/unit, and CORNERST (-8.57%), which closed trading at NGN0.64/unit, registered the most losses.