Losses in GEREGU, NB, others drag NGX capitalisation by N25bn

1 week ago

By Chukwuma Umeorah

Losses recorded by some blue-chip stocks on the equities sector of the Nigerian Exchange Limited (NGX) dragged market capitalisation by N25 billion at the close of trading on Tuesday.

Consequently, the market capitalisation fell to N28.657 trillion from an opening value of N28.681 trillion reported the previous day. Also, the All Share Index shed 45 basis points or (-0.09 per cent) to close at 52,612 points from 52,657 points that was reported in previous trading session. This represents a 1-week loss of 0.17 per cent a week-on- week (wow) gain of 6.29 per cent and an overall year-to-date (YtD) gain of 2.66 per cent. 

Investors traded 182.40 million shares with corresponding market value of  N4.822 billion in 3,470 deals against 143.75 million shares valued at N1.776 billion in 4,078 deals. Analysis of the data shows 27 per cent improvement in volume, 172 per cent improvement in turnover, but a 15 per cent decline in number of deals.

GEREGU led the activities of the day (when measured in Volume) trading 23.84 million shares valued at N3.20 billion, followed by ACCESSCORP which traded 17.30 million shares valued at N155.78 million.

Meanwhile, market’s breath closed positive with 20 gainers and 14 losers. Leading the gainers chart was the financial services sector with MBENEFIT increasing by 10.00 per cent to close at N0.33 per share. UNILEVER followed with a gain of 9.91 per cent to close at N12.20 per share.  CILEASING added 9.84 per cent to close at N3.46 per share, ABCTRANS was up by 9.64 per cent to close at N0.34 per share. INTENEGINS was up by 8.16 per cent to close at N0.53 per share.

On the other hand, Nigerian Brewery led the laggards chart losing 9.90 per cent to close at N41.85 per share. They were followed closely by CAVERTON which lost 9.52 per cent to close at N0.95 per share.

CHAMPION also lost 8.00 per cent closing at N4.60 per share, followed by WAPIC which was down by 6.67 per cent to close at N0.42 per share. NGXGROUP also lost 5.93 per cent to close at N25.40 per share.

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