Market News
NGX sheds 0.13% as equity market dips - PUNCH
The Nigerian Exchange closed negative on Wednesday, marking its second decline in August, as the All-Share Index fell by 191.11 points, or 0.13 per cent, to close at 145,864.78 points.
The market capitalisation dropped by N121bn to settle at N92.3tn. This came as investors traded a total of 1.34 billion shares worth N20.18 bn in 30,737 deals. The trading volume rose by five per cent compared with Tuesday’s session, while turnover fell by 17 per cent and the number of deals declined by one per cent.
A total of 128 equities participated in the session, ending with 53 gainers and 21 losers. Caverton Offshore Support Group led the gainers’ table with a 10 per cent increase to close at N7.92 per share. It was followed by Learn Africa Plc, which gained 10 per cent to close at N7.70; FTN Cocoa Processors Plc, which rose by 10 per cent to N6.93; Tripple Gee and Company Plc, which appreciated by 10 per cent to N5.17; RT Briscoe Plc, which advanced by 10 per cent to N3.74; and Prestige Assurance Plc, which gained 10 per cent to N2.42.
On the losers’ table, Thomas Wyatt Nigeria Plc recorded a 10 per cent decline to close at N3.42 per share. UACN Property Development Company Plc fell by 7.94 per cent to N8.00; Legend Internet Technologies Plc dropped by 6.35 per cent to N5.60; Berger Paints Nigeria Plc declined by 6.16 per cent to N32.00; Champion Breweries Plc fell by 5.75 per cent to N16.38; and Nigerian Breweries Plc dropped by 3.90 per cent to N71.50.
In terms of activity, Universal Insurance Company Plc led the volume chart with 193.43 million shares traded. It was followed by Japaul Gold and Ventures Plc with 123.16 million shares, Veritas Kapital Assurance Plc with 93.22 million shares, Access Holdings Plc with 84.99 million shares, and Sterling Financial Holdings Company Plc with 68.20 million shares.
For value, Access Holdings Plc led with transactions worth N2.35 bn, followed by Zenith Bank Plc with N1.86 bn, Aradel Holdings Plc with N1.65 bn, Guaranty Trust Holding Company Plc with N1.10 bn, and United Bank for Africa Plc with N1.08 bn.
The Insurance Index gained 7.94 per cent, the highest among sectoral indices, while the Oil and Gas Index rose by 0.12 per cent. The Top 30 Index fell by 0.33 per cent, the NGX Industrial Index declined by 0.33 per cent, the Main Board Index shed 0.01 per cent, and the Premium Index dropped by 0.37 per cent.
