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  • Business - Market Data
  • Updated: January 31, 2024

NGX Sees 1.5 per cent decline in All-Share Index, enters bearish zone

NGX Sees 1.5 per cent decline in All-Share Index, enters bea

The NGX finished in the bearish zone for the first time since January 10, 2024, as the All-Share Index dropped 1.5% to settle at 103,110.15 points, down 1,567.82 from Monday's 104,674.67 points.

Massive selloffs caused 61 stocks to post price losses compared to just 7 that recorded gains, which set off the negative run. As the market capitalization dropped to N56.425 billion at the end of trading on Tuesday, investors also lost N857 billion. 

The trade volume dropped from Monday's 689.93 million units to 649.95 million units, a 6% decrease. The trading value dropped from Monday's N25.94 billion to N11.09 billion, a 57% decrease. 

With a day change of -1.50%, the NGX All-Share Index closed at 103,110.15 points. Throughout the trading day, it fluctuated, peaking at 104,706.12 points and falling to a low of 102,885.14 points. 

The market capitalization is N56.43 trillion, and the year-to-date percentage is +37.90%. 649.95 million units were exchanged overall, with a corresponding value of N11.09 billion.

Top gainers were GEREGU (+4.61% closing at N517.80), WEMABANK (+1.21% closing at N10.90), UPDCREIT (+0.81% closing at N6.25), ETI (+0.38% closing at N26.60), ELLAHLAKES (+0.99% closing at N3.05), and UPDC (+8.11% closing at N2.00).

On the other hand, the biggest losers were LINKASSURE (-10.00% closing at N1.17), MANSARD (-10.00% closing at N5.85), STERLINGNG (-10.00% ending at N6.30), ACCESSCORP (-10.00% closing at N25.20), NASCON (-10.00%), and CAVERTON (-10.00% closing at N1.80).JAPAULGOLD (-9.06%) had the most volume with 59.80 million units, followed by TRANSCORP (-9.94%) with 52.06 million units, ACCESSCORP (-10.00%) with 46.81 million units, UBA (-9.67%) with 44.55 million units, and OANDO (-9.78%) with 34.95 million units.  

UBA (-9.67%), ACCESSCORP (-10.00%), ZENITHBANK (-7.14%) and N1.09 billion, GTCO (-6.29%) and N763.20 million, TRANSCORP (-9.94%), and ZENITHBANK (-7.14%) were the top five in terms of value. 

For equities valued at more than N1 trillion, trading mood was negative as ZENITHBANK (-7.14%) and GTCO (-6.29%) saw price declines while GEREGU (+4.61%) saw price gains.  

The market capitalization of ACCESSCORP (-10.00%), UBA (-9.67%), DANGSUGAR (-9.74%), and TRANSCOHOT (-1.42%) dropped below N1 trillion due to price declines. There were no pricing adjustments reported by MTNN, SEPLAT, BUAFOODS, BUACEMENT, DANGCEM, AIRTELAFRI, and other SWOOT category members.  

FBNH saw a 9.4% decrease.  

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