• Business - Market Data
  • Updated: December 08, 2023

NGX dips 0.49 per cent, FBN Holdings sees 9.86 per cent decline

NGX dips 0.49 per cent, FBN Holdings sees 9.86 per cent decl

The NGX retraced its previous day's gain, falling 0.49% to settle at 71,457.92 points. Equities together dropped N192 billion in value, bringing the market capitalisation down to N39.103 trillion.

FBN Holdings suffered a significant setback with a loss of 9.86%, wiping out gains gained earlier in the week and forcing the company to depart the SWOOT club.

These variations reflect the stock market's dynamic nature, with investors reacting to various market circumstances and individual stock performances.

The trade volume fell to 436.557 million units from 690.011 million units yesterday. Market turnover fell 37.6%, with the transacted value falling to N7.55 billion from N12.1 billion yesterday.

The NGX All-Share Index completed today's trading session at 71,457.92 points, representing a +0.49% day move. Throughout the day, the market fluctuated, with the lowest point hitting 71,418.82 points and the peak reaching 71,859.23 points. The index has grown significantly year to date, standing at +39.43%.

The total market capitalisation was N39.10 trillion, representing the total value of listed stocks. The total number of shares exchanged was 436.56 million, with a value of N7.55 billion. The market saw a significant number of transactions, totaling 7,096, indicating active involvement in today's trading operations.

Several equities outperformed the market in today's trading session. MULTIVERSE led the group with a +9.91% gain, finishing at N8.54 per share. Following closely after were SCOA and MANSARD, both of which gained +9.76% and closed the day at N1.35 and N4.50 per share, respectively.

INFINITY also increased significantly, gaining +9.52% and ending at N1.61 per share. TIP also had a remarkable performance, gaining +9.70% and closing the trading day at N1.15 per share. These significant gains reflect favourable investor mood and contribute to the current market dynamics.

A few equities saw decreases during today's trading session, making them the market's top losers. With a significant loss of -9.86%, FBN Holdings (FBNH) closed at N26.50 per share.

With losses of -9.64% and -9.46%, respectively, NSLTECH and DEAP Capital (DEAPCAP) closed at N0.75 and N0.67 per share, in close succession. CHAMPION saw a decrease as well, closing at N3.30 per share after losing -7.04% of its value.

At N0.47 per share, TANTALIZER ended the trading day with a loss of -6.00%, rounding out the list of top losers. These declines in share prices could be the result of different market forces influencing these specific stocks during today's trading activity.

In terms of volume, UNIVINSURE (+8.00%) led with 52.73 million units, followed by VERITASKAP (+5.88%) with 44.57 million units, NB (+0.13%) with 37.46 million units, ACCESSCORP (-5.21%) with 34.65 million units, and ZENITHBANK (-2.35%) with 31.62 million units.  

In terms of value, NB (+0.13%) led with N1.388 billion, followed by ZENITHBANK (-2.35%) with N1.121 billion, GTCO (-1.76%) with N834.21 million, SEPLAT (0.00) with N832.45 million, and ACCESSCORP (-5.21%) with N705.85 million. 

There was relative quiet in the SWOOT as only GTCO (-1.76%) and ZENITHBANK (-2.35%) recorded price changes, as they both declined. Other members of the category (BUAFOODS, AIRTELAFRI, BUACEMENT, SEPLAT, MTNN, and DANGCEM) witnessed no changes.  

Following a positive trading week, tier-1 banks began to experience negative trading sentiments, with all of them declining. FBNH (-9.86%), ACCESSCORP (-5.21%), GTCO (1.76%), UBA (-0.46%), and ZENITHBANK (-2.35%) are the worst performers.

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