Equities market sees marginal loss as 14 firms record losses

Equities market sees marginal loss as 14 firms record losses

Equities market sees marginal loss as 14 firms record losses


 

 

The All-Share Index (ASI) of the Nigerian Exchange Limited fell by 0.02 per cent on Thursday to 37,898.56 basis points at the end of trading as 14 companies recorded losses.

The market capitalisation of equities dropped by N4.55 billion to close the day at N19.76 trillion as 205.45 million shares were traded in 3,563 deals, a 3.9 per cent decline compared to the previous day’s 213.70 million shares in 3,522 deals.

Twenty companies recorded gains, led by Tripple Gee and Company Plc, which saw a 10 per cent increase in its share price to close at N0.77.

Other top gainers were Ikeja Hotel Plc, CWG Plc, Wema Bank Plc and Learn Africa Plc.

Fourteen companies saw declines in their share prices at the end of trading of the floor of the NGX, led by Royal Exchange Plc with a 9.84 per cent loss. It was followed by Oando Plc, Mutual Benefits Assurance Plc and Regency Alliance Insurance Company Plc.

Guaranty Trust Holding Company was the most traded stock by volume and value at 41.84 million shares and N1.25 billion respectively.

The banking sector and the insurance indices gained 0.4 per cent each at the end of trading, while the consumer goods and industrial goods indices closed flat.

Analysts at Cordros Capital said in their daily market update that the NGX equities market traded with mixed sentiments as interest in Zenith Bank resulted in gains of 0.6 per cent, offsetting losses in Oando at -8.51 per cent and Dangote Sugar at -0.8 per cent.

“As measured by market breadth, market sentiment was positive at 1.4x, as 20 tickers advanced relative to 14 losers. The ASI month-to-date return was flat, while the year-to-date loss was unchanged at -5.9 per cent,” they said.