• Business - Market Data
  • Updated: March 01, 2023

NGX Performance Indices Drop By 0.53 Per Cent

NGX Performance Indices Drop By 0.53 Per Cent

The Nigerian Exchange Ltd (NGX) equities market's five-day winning run came to an end as performance indicators fell 0.53 percent as a result of a sell-off in medium- and large-capitalized stocks.

Compared to the N30.4 trillion recorded on Tuesday, the market capitalization decreased by N162 billion, or 0.53 per cent, to settle at N30.238 trillion.

The All-Share Index (ASI), which peaked at 55,806.26 the previous session, dropped by 297.65 points to settle at 55,508.61.

The decline was brought on by selloffs, primarily in telco giant Airtel Africa and other companies.

The year-to-date return thus decreased to 8.31%.

“Positive sentiments remain in the market, as seen in the number of gainers versus losers.

“We expect to see profit taking in some selected stocks that have rallied in recent sessions, while market breadth remain in the green,” said analysts at Vetiva Securities Ltd.
Also, with 24 stocks on the gainer's table and 10 on the losers', the market breadth concluded in positive territory.

Veritas Kapital Assurance, which closed at $22,000 per share, was the top gainer on the percentage gainers' table.

Wema Bank increased by 8.75% to conclude at N4.35 per share, while Ardova increased by 9.76% to close at N18.55.

Geregu Powers increased by 8.20% to close at N298.10 per share, while The Initiative increased by 8.33% to close at 52k.

John Holt, on the other hand, finished at N1.59 per share and led the losers' table in percentage terms by 6.66 percent.

Following with 7.69% to close at N12, Ecobank Transnational Incorporated (ETI) saw a decline of 5.25 to close at N1,535 for each share of Airtel Africa.

Although FTN Cocoa Processors lost 3.45 percent to settle at 28k per share, United Capital lost 3.91 percent to close at 14.75.

The number of units traded climbed by 36.73% to 228.49 million, valued at N4.44 billion, and swapped in 3,6 transactions.

Capital Hotel share transactions, totaling 333.24 million shares valued at N2.33 billion, topped the list of activities.

Transcorp traded next with 44.89 million shares worth N67 million and 46.63 million shares worth N126 billion from Guaranty Trust Holding Company (GTCO).

Access Holdings traded 19.42 million shares for N186.21 million, while Oando traded 19.98 million shares worth N102.33 million.

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