Total market value of all quoted equities at the Nigerian Exchange (NGX) depreciated by N440 billion yesterday as a flurry of sell orders on large-cap stocks overshadowed the overall market position.
The All Share Index (ASI)- the value-based common index that tracks all share prices at the NGX declined by 807.83 absolute points or 1.82 per cent to close at 43,461.60 points. Aggregate market value of all quoted equities dropped by N440 billion to close at N23.672 trillion.
The downtrend was mainly due to losses recorded by large-capitalised stocks such as Dangote Cement, Guinness Nigeria, MTN Nigeria Communications (MTNN) and Stanbic IBTC Holdings.
There were 19 losers to 12 gainers. Unity Bank recorded the highest price gain of 10 per cent to close at 44 kobo per share. Thomas Wyatt Nigeria followed with a gain 8.57 per cent to close at 38 kobo. Jaiz Bank rose 6.38 per cent to close at N1.00 per share. Fidson Healthcare went up by 5.76 per cent to close at N8.99 while Geregu Power appreciated by 5.09 per cent to close at N121.80 per share.
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On the negative hand, Guinness Nigeria led the losers’ chart by 9.95 per cent to close at N74.65 per share. Custodian Investment followed with a decline of 9.32 per cent each to close at N5.35. Dangote Cement lost 8.33 per cent to close at N220.00 per share. Courteville Business Solutions lost 8.00 per cent to close at 46 kobo while NEM Insurance shed 7.50 per cent to close at N3.70 per share.
However, the total volume traded rose by 142 per cent to 249.912 million shares valued at N2.502 billion and exchanged in 3,283 deals. Transactions in the shares of Access Holdings topped the activity chart with 128.732 million shares valued at N1.035 billion. FBN Holdings (FBNH) followed with 19.492 million shares worth N192.824 million. Transnational Corporation of Nigeria (Transcorp) traded 17.352 million shares valued at N18.240 million. Fidelity Bank traded 14.900 million shares valued at N59.862 million while Guaranty Trust Holding Company (GTCO) recorded a turnover of 14.591 million shares worth N255.819 million.
”We expect mixed sentiments to continue during week, as pre-election risks amplify” GTI Securities stated.