NGX Dips as Equity Investors Book Profit
Dropped by N27 billion, the Local bourse end the week negative as the Al-share Index fell by 0.11% to close at 47,279.92 points, even as the Nigerian Exchange printed a higher number of losers (25) than gainers (18).
Due to selling rallies witnessed at the domestic bourse on Friday, the stock market year-to-date gain fell to 10.68%. The stock market has seen strong capital gain as investors are positioned to participate in dividend payments.
Closing the week negative, PRESCO share price dipped 10.00%, NEM lost 9.76%, FBNH tumbled 2.63%), FLOURMILL declined by 0.85% and SEPLAT bumped 0.24%.
Meanwhile JAIZBANK ended the week positive as its share price inched higher by 5.97%, DANGSUGAR jumped 0.29%, WAPCO rose 0.19%, GTCO appreciated 0.18%) and MTNN gained 015%.
Given the southward movement in the benchmark index, performance across sub-indices came in negative except for the NGX Banking Index and the NGX Industrial Index which rose by 0.18% and 0.01% respectively.
By sectorial performance, the NGX Insurance Index, NGX Consumer Goods Index and the NGX Oil/ Gas Index fell by 0.90%, 0.58% and 0.24% respectively. Read: T-Bills Yield Dips Ahead of Bond Auction as Naira Steadies
Stock market activity was weak today as the volume of stock traded fell by 34.91% to N225.69 million; also, the value of stocks traded decreased by 37.78% to N2.39 billion.
The NGX 30 Index decreased by 0.20 percent to close at 1,804.19 points as against 1,807.86 points on the previous close. Market turnover closed with traded volume of 79.43 million units. Zenith and UBA were the key gainers, while Presco and International Breweries were the key losers.
Today, the market cap of equities listed on the NGX decreased to ₦25.477 trillion from ₦25.504 trillion as on the previous close. The total volume traded closed with an exchange of 225.686 million units valued at ₦2.39 billion traded in 4,093 deals.
