NGX Reverses Gain, Close Trading Week on a Negative Note
- The NGX closed lower in the last trading day of previous week as profit-taking reversed earlier gains
- At the end of trading there were 11 gainers against 43 losers as 35.2 million shares valued at ₦15.1 billion exchanged hands
- LivingTrust Mortgage Bank, Veritas Kapital, NGX Group were among the losers while Deap Capital, Sovereign Trust Insurance among gainers
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 (NGX) Limited closed lower by 0.29% on Friday, September 19 reversing the gains it posted a day earlier due to profit-taking.
Data showed that only 11 equities ended on the gainers’ chart, with the number of price losers at 43, indicating weak investor sentiment and a negative market breadth index.
Source: Facebook
Market summary
the All-Share Index (ASI) declined by 417.73 points to 141,845.34 points from 142,263.07 points, while market capitalisation dropped by ₦265 billion to ₦89.744 trillion from ₦90.009 trillio
A total of 435.2 million shares valued at ₦15.1 billion exchanged hands in 24,309 deals, compared to 325.1 million shares worth ₦8.4 billion traded in 22,779 deals, indicating improvements of 33.87% in volume, 79.76% in value, and 6.72% in the number of deals.
Top 5 decliners:
- LivingTrust Mortgage Bank lost 10.00%, closing at ₦4.77.
- Veritas Kapital depreciated by 9.91% to ₦2.00.
- Secure Electronic Technology weakened by 8.54% to ₦0.75.
- NGX Group slumped by 8.32% to ₦55.10.
- United Capital slipped by 7.56% to ₦18.95.
Top 5 gainers:
- Deap Capital appreciated by 9.94% to ₦1.88.
- Sovereign Trust Insurance expanded by 7.67% to ₦3.09.
- Nigerian Breweries closed higher by 6.37% to ₦75.95.
- Guinness Nigeria gained 4.49%, ending at ₦183.90.
- Legend Internet grew by 3.89% to ₦5.61.
Source: UGC
Top 5 trades by volume:
- UBA topped the activity chart with 82.1 million equities worth ₦3.6 billion.
- Access Holdings transacted 29.4 million shares valued at ₦765.2 million.
- Zenith Bank exchanged 27.9 million stocks worth ₦1.8 billion.
- Chams traded 19.5 million equities valued at ₦63.7 million.
- First Holdco sold 18.0 million stocks worth ₦575.6 million.
Sectoral performance
Apart from the consumer goods space, which gained 0.61%, and the commodity landscape, which closed flat, every other sector recorded losses.
- The NGX Banking Index dropped 1.93%.
- The NGX Insurance Index depreciated by 1.27%.
- The NGX Energy Index shrank by 0.13%.
- The NGX Industrial Goods Index depleted by 0.01%.
Naira appreciates
Earlier, Legit.ng reported that the value of the naira strengthened against the United States Dollar in the official Nigerian Foreign Exchange Market (NFEM) on Friday, September 10.
It was the same outcome for the naira against other currencies as it recorded gains against major counterparts in the official window.
CBN data shows that naira appreciated by N29.78 against the Pound Sterling and also N18.56 against the euro
Source: Legit.ng
