BUSINESS

NGX Index Down 0.20% As AIICO, Guinness, Nestlé Nigeria Shed Weight

Trading on the Nigerian Exchange Ltd. (NGX) extended its bearish trend, causing market capitalisation to dip further by N52 billion.

Specifically, the All-Share Index (ASI) at the close of trading on Tuesday declined to stand at 47,156.56  points, representing 0.20 per cent when compared to the 47, 251.93 points recorded on Monday.

Similarly, the overall market capitalisation value lost N52 billion to close at N25.414 trillion from N25.466 trillion recorded on Monday.

The market’s negative performance was driven by price depreciation in large and medium capitalised stocks which are; Nestle Nigeria, AIICO, Guiness Nigeria, WAPCO, United Bank for Africa(UBA), Zenith Bank and Access Bank.

The market breadth was negative as 27 stocks declined relative to 16 gainers.

NPF Microfinance Bank recorded the highest price gain of 9.52 per cent to close at N2.53 per share.

First City Monument Bank (FCMB) followed with a gain of 7.94 per cent to close at N3.67 per share, while Prestige Insurance  rose by 6.52 per cent to close at 49k per share.

Chams rose by 4.76 per cent to close at 22k while UACN gained 4.71per cent to close at N12.15k per share.

Fidelity Bank appreciated by 3.58 per cent to close at N3.18k per share.

On the other hand, Japaul Gold led the losers’ chart by 8.82 per cent  to close at  31k per share.

Champion and Oando depreciated by 8.78 per cent  and 6.75 per cent each to close at N1.87 and N4.70 per share, respectively.

Mansard followed with a decline of 6.52 per cent to close at N2.15k per share while Regal Insurance lost 5.26 per cent to close at 36k per share.

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Jaiz Bank declined 4.23 per cent to close at 68k per share.

The total volume of stocks  traded was 303.480 million units, valued N3.902 billion, and exchanged in 4,616 deals.

Transactions in the shares of Guaranty Trust Holding Company (GTCO)  topped the most traded chart with 28.34 million shares valued N737.469 million.

Zenith Bank followed with 28.215 million shares worth N758.099 million, while Access Bank traded 44.151 million shares valued N433.299 million.

United Bank for Africa(UBA) traded 39.543 million shares valued N304.855 million, while Fidelity Bank transacted 133.352 million shares worth N103.870 million.

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