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  • Business - Market Data
  • Updated: November 20, 2023

NGX opens week with 0.15 per cent decline

NGX opens week with 0.15 per cent decline

The All-Share Index dropped by 0.15% to close at 71,008.78 points, marking a gloomy start to the week for the NGX. From N57 billion to N39.051 trillion, market capitalization fell.

A 112.8% increase from its opening day price, Mercure's performance was even more spectacular as it gained 9.95% to close at N6.30.

33 equities ended the day in the positive and 15 in the negative, indicating that even though the market closed down, the breadth was lower.

Transaction volume dropped by 18.8% to 358.446 million units, but the number of trades grew to 6,551. At N4.36 billion, the trade value likewise dropped.

Top gainers were MECURE (+9.95%), MULTIVERSE (+9.92%), ABCTRANS (+9.88%), CILEASING (+9.84%), and NNFM (+9.83%). The top losers were RTBRISCOE (-9.84%), PRESTIGE (-9.09%), STANBIC (-7.08%), CWG (-3.14%), and CALVERTON (-2.78%).

ACCESSCORP, AIICO, UNIVINSURE, JAPAULGOLD, and VERITASKAP were notable in terms of the trading volume. In terms of trading value, ZENITH BANK, ACCESSCORP, GEREGU, VFDGROUP, and AIRTELAFRI were the leaders.

Stocks worth over a trillion dollars, such as AIRTELAFRI, BUACEMENT, BUAFOODS, DANGCEM, MTNN, and SEPLAT, had modest price fluctuations. GTCO observed a price increase, whilst ZENITHBANK saw a price decrease. 

Tier-1 banks experienced mixed emotions, with FBNH and GTCO rising while ACCESSCORP, UBA, and ZENITHBANK fell. The market's movements underscore the importance of strategic analysis in navigating the changing terrain.

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