Stock Market Drops by 0.09% to Sustain Negstive Trend

Kayode Tokede

The domestic stock market closed lower yesterday, as the Nigerian Exchange Limited All-Share Index (NGX ASI) dropped by 0.09 per cent to maintain downward momentum.

The stock market key indicator, the NGX ASI declined by 222.61 basis points, or 0.09 per cent, to close at 247,513.63 basis points, down from 247,736.24 basis points the stock market opened for trading this week.

On this , the NGX ASI in its Year-to-Date return erased to 59.06 per cent.

Similarly, market capitalisation fell by N144 billion, or 0.09 per cent, to close at N160.708 trillion, compared with N160.852 trillion.

However, the market breadth closed positively with 24 gainers and 21 losers.

On the gainers’ table, Etranzact rose by 9.96 per cent, settling at N14.35, WAPIC trailed by 7.83 per cent, finishing at N2.48 and Daar Communications grew by 7.25 per cent, closing at N1.48 per share.

Livestock Feeds gained by 6.92 per cent, ending the session at N15.45 and Chams advanced by 5.88 per cent, finishing at N3.60 per share.

Conversely, Legend Internet led the losers’ table by 6.85 per cent, closing at N3.40, Omatek Ventures followed by 6.43 per cent, settling at N1.31 while Secure Electronic Technology lost by 5.71 per cent, ending the session at 66k per share.

Also, Mutual Benefits Assurance shed by 5.49 per cent, finishing at N3.10 and AIICO Insurance dipped by 4.39 per cent, closing at N3.92 per share.

Market activity declined, with total traded volume falling by 2.76 per cent to 394.20 million shares, valued at N21.38 billion in 38,707 deals.

Access Corporation led in volume, with 57.02 million shares traded, accounting for 14.46 per cent of the total volume.

GTCO recorded the highest value at N3.13 billion, representing 14.63 per cent of the day’s total value.