Investors Suffer N139bn Loss in Post-Christmas Trading at NGX
The Nigerian capital market experienced a 0.34% decline in the All-Share Index (ASI) following the conclusion of the Christmas holiday period. This decrease resulted in a loss of 254.6 basis points, leading to the ASI closing at 73,768.64 compared to the pre-holiday figure of 74,023.27. Furthermore, the market capitalization saw a reduction of N139.34 billion, decreasing to N40.3677 trillion from N40.507 trillion. Market turnover also decreased to N12.93 billion from N16.58 billion.
Despite these losses, there was a positive market breadth with 38 stocks advancing, 21 declining, and 59 remaining unchanged in 8,901 deals. Notable gainers included Eterna Plc, which experienced a significant 10% growth, closing at N13.20 from its previous price of N12.00 per share. Additionally, Axa Mansard Insurance, Multiverse Mining and Exploration, Infinity Trust Mortgage Bank, and IMG all saw their share prices increase by 9.96%, 9.95%, 9.93%, and 9.85% respectively.
Conversely, UAC Nigeria witnessed the most significant decline, with its share price dropping by 10% to close at N13.50 from N15.00 per share. Other notable decliners included Deap Capital, Caverton Offshore, and Royal Exchange, which experienced a 7.25%, 6.59%, and 6.25% decrease in their share prices.
In terms of trading volumes, Jaiz Bank led the pack, trading 35.321 million shares valued at N58.6 million in 201 deals, followed by Transcorp with 31.059 million shares worth N278.8 million, and Unity Bank, which traded 25.106 million shares valued at N40.4 million.
Geregu topped the value index, trading N6.057 billion worth of stocks in 208 deals, with GTCO following closely at N819 million in 245 deals. Airtel Africa rounded up the top three, trading N798 million in 85 deals.
These market movements were reported by Babajide Okeowo.
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