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

NGX continues bearish trend, sheds 1.5 per cent

NGX continues bearish trend, sheds 1.5 per cent

The Nigerian Exchange (NGX) maintained its downward trajectory, with the NGX All-Share Index (ASI) slipping by 1.5% to close at 102,108.05 points, marking a decline of 1,551.76 points from the previous session's close of 103,659.81 points.

Market Breadth and Biggest Losers

Market breadth was overwhelmingly negative as only 14 stocks recorded gains while 46 stocks suffered losses. BUA Cement emerged as the biggest loser of the day, plummeting by 10%.

Market Capitalization and Decline in Equities

The equities market saw a substantial decline in value, with market capitalization shrinking by N850 billion to settle at N55.87 trillion, down from N56.72 trillion recorded in the previous session.

Trading Volume and Value

Trading activity also witnessed a significant downturn, with trading volume dropping by 41.2% to 494.19 million units, and trading value declining by 61% to N7.6 billion.

Top Gainers and Losers

Top gainers included CADBURY (+10.00%), JULI (+10.00%), and MEYER (+9.94%), while top losers comprised BUACEMENT (-10.00%), CONHALLPLC (-10.00%), and STERLINGNG (-9.85%).

Trading Volume and Value Leaders

JAIZBANK led in trading volume with 90.78 million units, while GTCO topped in trading value with N1.32 billion.

Trading Sentiment

Trading sentiment was negative for stocks worth over N1 trillion, with BUACEMENT, GTCO, and ZENITHBANK recording losses, while MTNN registered a price gain. Tier-1 banks such as FBNH, ACCESSCORP, and UBA also experienced price losses.

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