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  • Business - Market Data
  • Updated: April 03, 2024

Nigerian stock market witnesses 13.81 decline in transactions

Nigerian stock market witnesses 13.81 decline in transaction

Following a two-day Easter break, transactions on the Nigerian Exchange Ltd. (NGX) witnessed a decline of 13.81 percent on Tuesday.

Market analysis revealed a decrease in trade turnover compared to the previous session, with 545.49 million shares valued at N14.61 billion exchanged in 12,747 deals. This is in contrast to the 623.08 million shares valued at N16.95 billion traded in 10,257 deals on Thursday.

Guaranty Trust Holding Company (GTCO) took the lead in both volume and value, with 84.65 million shares traded worth N4.48 billion. Access Corporation sold 68.89 million shares valued at N1.73 billion, while United Bank of Africa (UBA) traded 65.49 million shares worth N1.83 billion.

Zenith Bank recorded 62.59 million shares traded at N2.77 billion, and Transnational Corporation transacted 27.43 million shares valued at N383.63 million.

Consequently, the market capitalisation decreased by N25 billion or 0.04 percent to close at N59.095 trillion, compared to the previous close of N59.120 trillion.

The All-Share Index also dropped 0.04 per cent or 44 points to settle at 104,518.14, compared to 104,562.06 posted in the previous session.

As a result, the Year-To-Date (YTD) return slipped to 39.78 per cent.

Losses in the shares of FBN Holdings, Stanbic IBTC, Transnational Corporation, and Julius Berger, among other top losers, dragged the market performance down.

However, market breadth closed positive with 23 gainers and 17 losers on the floor of the exchange.

On the gainers’ table, May and Baker Nigeria Plc, led by 10 per cent to close at N6.05, Ikeja Hotel gained 9.95 per cent to close at N7.07 per share.

Chams rose by 9.90 per cent to close at N2.11, Unity Bank went up by 9.66 per cent to close at N2.27, and AIICO Insurance grew by 9.65 per cent to close at N1.25 per share.

Conversely, UAC of Nigeria Plc led the losers’ table by 9.82 per cent to close at N12.40, followed by Julius Berger by 9.17 per cent to close at N59.95 per share.

ABC Transport trailed by 9.09 per cent to close at 70k, Universal Insurance declined by 7.69 per cent to close at 36k, while UPDC Real Estate Investment Trust dropped 6.67 per cent to close at N1.40 per share.

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