NGX Falls As Investors Take Profit In Banking, Consumer Goods Stocks

• The NGX ended the midweek trading session in a negative position as investors sold off banking and consumer stocks
• Data showed that Learn Africa Plc, Triple Gee and Company Plc, FTN Cocoa Processors Plc led the gainers table
• The losers' table includes Champion Breweries Plc, Berger Paints Plc and Legendary Investments Plc

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

The Nigerian Exchange has recorded its first negative close of the week on Wednesday, August 13, as profit-taking activities in some medium and blue-chip stocks weighed on the overall market performance

At the close of trading, the stock market fell by 0.13%, moderating the year-to-date return to 41.72%, while the month-to-date return dropped to 4.29%

Data shows that the NGX All-Share Index (ASI) fell to 145,864.80 points from the previous day’s 146,055.89 points.

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Nigerian stock market extends strong performance, 10 companies top gainers list

While market capitalisation declined to N92.284 trillion from N92.405 trillion.

A total of 1,341,810,876 shares valued at N20.215 billion were traded in 30,749 deals.

Top 5 gainers

• Learn Africa Plc: +N0.70, from N7.00 to N7.70 per share (+10.00%)
• Tripple Gee and Company Plc: +N0.47, from N4.70 to N5.17 per share (+10.00%)
• Prestige Assurance Plc: +N0.22, from N2.20 to N2.42 per share (+10.00%)
• FTN Cocoa Processors Plc: +N0.63, from N6.30 to N6.93 per share (+10.00%)
• Lotus Halal Equity Exchange Traded Fund: +N7.20, from N72.00 to N79.20 per share (+10.00%)

Top 5 decliners

• Thomas Wyatt Nigeria Plc: -N0.38, from N3.80 to N3.42 per share (-10.00%)
• UPDC Plc: -N0.69, from N8.69 to N8.00 per share (-7.94%)
• Legend Internet Technologies Plc: -N0.38, from N5.98 to N5.60 per share (-6.35%)
• Berger Paints Plc: -N2.10, from N34.10 to N32.00 per share (-6.16%)
• Champion Breweries Plc: -N1.00, from N17.38 to N16.38 per share (-5.75%)

Top 5 trades by volume

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Nigeria stock market records first loss after 27 consecutive trading days

• Universal Insurance Plc: 193,434,940 shares worth N282,415,012.40
• Japaul Gold & Ventures Plc: 123,162,659 shares worth N389,976,458.75
• Veritas Kapital Assurance Plc: 93,216,008 shares worth N260,053,732.68
• Access Holdings Plc: 84,985,349 shares worth N2,346,845,515.00
• Sterling Financial Holdings Company Plc: 68,202,139 shares worth N552,619,234.49

Dollar exchange rate rises again in official, black markets

Earlier, Legit.ng reported that the dollar has started the new week on a positive note against the naira in the foreign exchange market.

According to data from the Central Bank of Nigeria, the naira closed against the dollar at N1,537.09 in the official Nigerian Foreign Exchange Market (NFEM).

Nigerian currency also appreciated against the euro by N3.85 to trade at N1,782.75/€1, in contrast to the previous session’s N1,786.60/€1.

Source: Legit.ng