BUSINESS

NGX Drops Further By N126bn

 

The equities market of the Nigerian Exchange Limited (NGX) on Tuesday closed lower with N126 billion loss as investors’ sentiments towards the market remained dampened.

The All-Share Index declined by 230.47 basis points or 0.34 per cent, to close at 66,652.17 basis points. Similarly, the overall market capitalisation value lost N126 billion to close at N36.479 trillion.

As measured by market breadth, market sentiment was flat as an equal number of 22 stocks gained and lost. Consolidated Hallmark Insurance and Cornerstone Insurance recorded the highest price gain of 10 per cent each to close at N1.10 and N1.65, while UPDC Real Estate Investment Trust (UPDCREIT) followed with a gain of 9.86 per cent to close at N3.90, per share.

Beta Glass rose by 9.85 per cent to close at N51.30, while Champion Breweries gained 9.09 per cent to close at N3.60, per share. On the other hand, Conoil led the losers’ chart by 9.99 per cent to close at N80.20, per share.

FTN Cocoa Processors followed with a decline of 9.95 per cent to close at N1.72, while Oando lost 9.81 per cent to close at N9.65, per share.

Berger Paints declined 8.63 per cent to close at N11.65, while Africa Lasaco shed 8.42 per cent to close at N1.85, per share.

The total volume traded declined by 10.8 per cent to 363.99 million units, valued at N4.53 billion, and exchanged in 7,018 deals. Transactions in the shares of Access Holdings topped the activity chart with 49.971 million shares valued at N784.914 million. Transnational Corporation (Transcorp) followed with 48.531 million shares worth N291.183 million, while United Bank for Africa (UBA) traded 45.717 million shares valued at N787.374 million.

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Zenith Bank traded 21.576 million shares valued at N681.595 million, while FTN Cocoa Processors transacted 15.801 million shares worth N28.121 million.

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