Profit-taking Drags Local Bourse as Investors Lost N155 Billion
The Nigerian Exchange (NGX) on Friday closed the week on a negative note amid profit-taking as investors’ lost N155 billion as market capitalisation printed at N19.626 trillion. The bourse benchmark index (NGX-ASI) inched downward by 0.78%. However, market breadth remained positive with 27 gainers compared to 12 losers.
Consequently, month to date and year to date return dipped further into negative territory, settling at -2.0% and -6.5%, respectively.
Meanwhile, market activities closed on a higher note, with both volume and value of trades appreciating by 21.09 percent and 31.64 percent, respectively. A total of 202.71 million units of shares valued at N2.40 billion, were traded in 3,630 deals.
GTCO led the volume and value chart accounting for 10.46 percent and 26.17 percent, respectively, as FBNH (7.74%), UCAP (6.78%), CHAMS (6.51%) and MBENEFIT (5.91%) completely the top 5 on the volumes chart.
However, HONEYWELL, FIDSON and UPL topped the advancers’ chart, with their share prices appreciating by 9.93 percent, 9.88 percent and 9.87 percent, respectively.
While NPFMCRFBK led the decliners’ table with its share price depreciating by 8.47 percent to close at N1.89 after opening the day at N1.73
Union Bank of Nigeria trailed with 7.76 per cent to close at N5.35, while Mutual Benefits dipped 4.55 per cent to close at N1.67 per share. Eterna declined by 4.40 per cent to close at N7.60, while Dangote Cement declined by 3.91 per cent to close at N221 per share.
On the other hand, Honey Well Flour Mills dominated the gainers’ table in percentage terms, gaining 9.93 per cent to close at N1.55 per share.
Fidson Healthcare followed with 9.88 per cent to N5.56, while UPL added 9.87 per cent to close at N1.67 per share.
Linkage Assurance improved by 8.33 per cent to close at 65k, Sovereign Trust Insurance gained 8 per cent to close at 27k per share
Elsewhere, Sectoral performance was broadly positive, following gains in the Banking (+0.9%), Consumer Goods (+0.6%) and Oil and Gas (+0.1%) indices, and declines in the Industrial Goods (-3.3%) and insurance (-0.8%) indices.
Profit-taking Drags Local Bourse as Investors Lost N155 Billion
