The Nigerian Exchange Limited (NGX) reversed previous gains to close on a downturn yesterday, as market capitalisation dipped by N36 billion, following losses in Total Energies and 16 stocks.
At the close of transactions yesterday, market capitalisation of listed equities declined by 0.12 per cent to N29.608 trillion from N29.644 trillion reported on Wednesday.
The All Share Index (ASI), which measures the performance of quoted companies, also depreciated by 67.15 basis points to 54359.90 points from 54427.05 points, traded the previous day.
The downturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are Total Energies, Geregu, Nigerian Breweries, GlaxoSmithKline, NGXGroup and United Capital.
On the price movement chart, 17 stocks depreciated in price, while 16 others constituted the gainers’ chart.
Glaxosmith topped the losers’ chart, shedding 7.91 per cent to close at N6.40 kobo, while Veritas Kapital trailed with a loss of 4.76 per cent to close at 20 kobo. Wapic Insurance dipped by 4.44 per cent to close at 43 kobo. Royal Exchange fell by four per cent to close at 72 kobo.
Fidelity Bank dropped 3.39 per cent to close at N5.70 kobo. Nigerian Breweries depreciated by 2.63 per cent to close at N40.70 kobo. Mansard declined by 2.44 per cent to close at N2.
Geregu shed 2.44 per cent to close at N200. Total dropped 2.32 per cent to close at N218.80 kobo. NGXGroup also lost 1.73 per cent to close at N28.40 kobo.
Redstarex, however, led the gainers’ chart, adding 9.49 per cent to close at N2.77 kobo, while Trans Express followed with a gain of 9.46 per cent to close at 81 kobo.
SUNU Assurance added 9.38 per cent to close at 35 kobo. Triple G increased by 8.70 per cent to close at N1.25 kobo. Chams appreciated by 8.33 per cent to close at 26 kobo.
TransNational Corporations gained 3.17 per cent to close at N1.30 kobo. Royal Exchange appreciated by 2.67 per cent to close at 77 kobo. NPFMicrofinance Bank garnered 2.30 per cent to close at N1.78 kobo.
Honeywell Flour Mills gained 2.28 per cent to close at N2.24 kobo. Wema Bank also increased by 1.72 per cent to close at N4.13 kobo.
Volume of activities increased by 46.84 per cent as investors traded 222.644 million shares valued at N3.036 billion in 3287 deals against 151.583 million shares worth N1.810 billion exchanged hands in 2974 deals.
Universal Insurance recorded the highest volume of activities with 71.809 million shares valued at N14.362 million, GTCO Plc followed with an account of 22.264 million shares worth N559.067 million.
Sterling Bank exchanged 12.909 million shares cost N19.752 million; AIICO Insurance exchanged 11.431 million shares valued at N6.905 million, while FBNHoldings traded 10.316 million shares worth N121.900 million.
