NGX Equity Market Lost N21.35 Billion Despite Positive Market Breadth

Profit-taking pushes equity trading to close on a bearish note following GTCO's (-1.12%) negative close. Thus, the all-share index fell by -0.08% to close at 47,207.27 basis points, which represented a 39.63bps growth from the previous session position of 47,246.90 basis points.

Taking a look at the broader picture, the ASI narrowed the gap by 122.53 bps from its 52-week all-time high of 47,329.80 bps.

The Week-to-Date (W-t-D), Month-to-Date (M-t-D), and Year-to-Date (Y-t-D) indicators grew by +0.14%, +1.25%, and +10.51%, respectively.

Consequently, the volume of trade fell by 45.32% to close at 230.65 million units traded in 4,377 transactions, compared to the previous session's figure of 421.82 million units traded. The value of shares also fell by 32.24% to close at NGN3.49 billion, compared to the previous session's figure of NGN5.16 billion traded.

The equity market lost NGN21.35 billion as its cap closed at NGN25,442.15 trillion, as against its previous session position of NGN25,463.50 trillion.

TRANSCORP with a volume trade of 23.19 million units of shares traded, was the most dominant stock by volume, while SEPLAT was the most dominant stock by value, having generated over NGN645.1 billion from 807.6 thousand units traded.

AIRTELAFRIC, with shares valued at NGN316.2 million, and FIDELITYBK, with 15.5 million units traded, were also notable.

When broken down by sector, the consumer goods (-0.6%) index and the banking (-0.4%) index declined, while the insurance (+0.9%) index was the sole gainer. However, the industrial goods and oil & gas indices closed flat.

As measured by market breadth, the mood in the market was positive as 24 stocks gained, while 16 stocks lost.

The most gains were made by ETRANZACT (+10.00%), which closed trading at NGN2.20/unit, NIGERINS (+9.09%), which closed trading at NGN0.24/unit, MAYBAKER (+9.00%), which closed trading at NGN5.54/unit, and WEMABANK (+8.99%), which closed trading at NGN0.97/unit, while AFRIPRUD (-5.77%), which closed trading at NGN7.35/unit, DANGSUGAR (-5.28%), which closed trading at NGN17.05/unit, CHAMS (-4.17%), which closed trading at NGN0.23/unit, and MBENEFIT (-3.70%), which closed trading at NGN0.26/unit, registered the most losses.