Following recent rounds of gains recorded on equities investments in Nigeria, investors at the local bourse are directing attention towards profit-taking which cost the market N954 million marginal loss on Wednesday.
The stock market closed with a negative trend, experiencing a decrease of 1.74 points with a negative market breadth.
The NGX All-Share Index closed flat at 102,106.31 basis points, compared to the previous day’s loss of 1.50%, which closed at 102,108.05 basis points. The NGX Market CAP also recorded a loss of N954.04m in Naira terms.
YTD, the NGXASI Stands at 36.55%
The total volume traded declined by 30.81% to close at N341.92m, valued at N6.41bn and traded in 9,665 deals. TRANSCORP was the most traded stock by volume with N39.90m units traded, while GTCO was the most traded stock by value with N1.02bn units traded.
The Gote Index declined by 0.40% to close at 410.76, while the Toni index declined by 1.07% to close at 594.77 basis points.
At the close of trading, the market recorded 17 gainers, 35 losers, and 69 unchanged. MEYER topped the gainer’s list, while AIICO topped the list of losers.
Thus, market breadth closed negatively as the Market Breadth Index (MBI) is 0.26x.
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Volume and Value Contribution
TRANSCORP had the highest volume contribution with 11.67%, while FBNH and GTCO followed closely.
According to the value chart, GTCO is at the top with a 15.91% contribution. FBNH and UBA followed closely behind.
