Business
MARKET capitalisation on the Nigerian Exchange Ltd. (NGX) shed N18 billion on Friday as the gains recorded in the previous session were reversed.
This indicates four losses out of the five trading sessions of the week.
Notably, the market capitalisation which opened at N55.525 trillion, dropped N18 billion or 0.03 per cent to close at N55.507 trillion.
The All-Share Index also declined by 0.03 per cent or 31 points to close at 98,125.73, as against 98,156.71 posted on Thursday.
However, the Year-To-Date (YTD)return rose to 31.23 per cent.
Meanwhile, profit-taking in the stocks of Seplat, Guaranty Trust Holding Company (GTCO), Wema Bank, Transcorp Hotel, Eterna Plc, among other declined medium-capitalised equities pulled the market performance down.
The market breadth also closed negative with 24 losers and 15 gainers.
On the losers’ table, Transcorp Hotel led by 9.72 per cent to close at N92, NEM Insurance followed closely by 9.63 per cent to close at N8.45 per share.
UPDC Real Estate Investment Trust lost 9.57 per cent to close at N4.25, Eterna shed 9.35 per cent to close at N11.15 and Tantalizers dropped 9.09 per cent to close at 50k per share.
On the other side, PZ led the gainers’ table by 9.92 per cent, Julius Berger trailed by 9.53 per cent and Sterling Nigeria rose by 6.67 per cent to close at N4.48 per share.
FCMB also gained 5.26 per cent to close at seven Naira and United Bank of Africa(UBA) added 4.55 per cent to close at N21.85 per share.
Analysis of the market activity showed that trade turnover in volume settled 65.65 per cent lower and 5.53 per cent higher in value than the previous session.
Specifically, investors traded a total of 140.77 million shares worth N9.42 billion in 6,934 deals, compared to 409.77 million shares valued at N8.93 billion and exchanged in 7,296 deals on Thursday.
Meanwhile, Access Corporation led the activity table in volume with 25.61 million shares valued at N435.09 million, GTCO followed with 13.77 million shares worth N548.65 million to lead in value.
UBA traded 5.63 million shares valued at N123.28 million, FBN Holdings sold N5.32 million shares worth N123.06 million and Wema Bank transacted 5.19 million shares worth N33.86 million. (NAN)
F.A
May 18, 2024
Tags: NGX Market Cap.
