NGX Equity Market Suffers N37.93 Billion Loss As ASI Drops Declines By -0.13%

Equity trading on the floor of the domestic bourse opened on a bearish note following sell pressure witnessed on ZENITHBANK (-2.28%) and FIDELITYBNK (-0.61%) shares. As a result, the all-share index fell by -0.13% to close at 46,898.23 basis points, as against Friday’s position of 46,961.62 basis points, which represents a -60.72bps shift.

The decline in the ASI was worsened by its -584.50 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 -0.15% and -1.06%, respectively, while the Year-to-Date (Y-t-D) index fell by 16 basis points to close at +9.78%.

The volume of units traded increased by 103.22% to close at 359.89 million units exchanged in 5,163 transactions, as against 214.69 million units traded in the previous session, while the value of shares fell by 37.54% to close at NGN2.61 billion, as against NGN4.18 billion recorded in the previous session.

Unfortunately, the equity market lost NGN37.93 billion as its equity cap closed at NGN25,273.23 trillion, up from its previous session close of NGN25,311.16 trillion.

TRANSCORP was the most dominant stock by volume, with 92 million units traded, while SEPLAT was the dominant stock by value, with NGN368.37 million traded.

Some of the notable mentions included ZENITHBANK, with a share value of NGN309.64 million, and STERLNGBANK, with a volume trade of 50.74 million units, among others.

As measured by market breadth, the mood in the market was slightly positive as there were 18 gainers relative to 16 losers.

The most gains were made by BETAGLAS (+9.92%), which closed trading at NGN58.20/unit, PZ (+9.68%), which closed trading at NGN10.20/unit, LIVESTOCK (+9.03%), which closed trading at NGN1.69/unit, and LINKASSURE (+8.00%), which closed trading at NGN0.54/unit, while LEARNAFRCA (-9.68%), which closed trading at NGN1.96/unit, UNITYBNK (-8.16%), which closed trading at NGN0.45/unit, CAVERTON (-7.09%), which closed trading at NGN1.18/unit, and FCMB (-6.89%), which closed trading at NGN3.11/unit, registered the most losses.