• Business - Market Data
  • Updated: March 25, 2022

NGX Equity Market Suffers N109.04 Billion Loss Despite Positive Market Breadth

NGX Equity Market Suffers N109.04 Billion Loss Despite Posit

The bears regained control from the bulls on the floor of the Nigerian stock market following sell pressure experienced on GTCO (-2.95%) and ZENITHBANK (-1.12%) shares. As a result, the all-share index fell by -0.12% to close at 46,961.62 basis points, as against the previous session position of 47,163.94 basis points, which represents a -54.88bps shift.

The decline in the ASI was worsened by its -521.11 bps from the 52-week high position all-share index of 47,482.73 basis points.

The Week-to-Date (W-t-D) and Month-to-Date (M-t-D) indices remained negative by -0.68% and -0.91%, respectively, while the Year-to-Date (Y-t-D) index fell by 47 basis points to +9.94%.

The volume of units traded declined by 19.73% to close at 214.69 million units exchanged in 4,003 transactions, as against 251.89 million units traded in the previous session, while the value of shares equally fell by 18.35% to close at NGN2.63 billion, as against NGN3.02 billion recorded in the previous session.

Unfortunately, the equity market lost NGN109.04 billion as its equity cap closed at NGN25,309.76 trillion, up from its previous session close of NGN25,418.80 trillion.

Despite its drop in volume, FIDELITYBANK still retained its position as the most dominant stock by volume, with 48.26 million units traded, while GTCO, even with the decline in share value, still retained its position as the dominant stock by value, with NGN606.92 million traded.

Some of the notable mentions included ZENITHBANK, with a share value of NGN540.43 million, and UBA, with a volume trade of 18.33 million units, among others.

As measured by market breadth, the mood in the market was slightly positive as there were 16 gainers relative to 14 losers.

The most gains were made by VERITASKAP CAP (+9.52%), which closed trading at NGN0.23/unit, FCMB (+7.46%), which closed trading at NGN3.60/unit, CUSTODIAN (+7.14%), which closed trading at NGN7.50/unit, and OANDO (+6.38%), which closed trading at NGN5.00/unit, while RTBRISCOE (-9.72%), which closed trading at NGN0.65/unit, CHIPLC (-9.09%), which closed trading at NGN0.60/unit, STERLNBANK (-3.80%), which closed trading at NGN1.52/unit, and FLOURMILL (-3.13%), which closed trading at NGN31.00/unit, registered the most losses.

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