The All-Share Index (ASI) dropped by 0.07 percent yesterday as a result of the Nigerian Exchange Limited (NGX) reopening on a negative note following losses in 17 equities and Nigerian Breweries.
The All Share Index (ASI) dropped 38.22 absolute points, or 0.07 percent, to close at 51,791.45 points yesterday as trading came to an end. The market cap decreased by N21 billion to N27.921 trillion at the close.
Losses in medium- and large-capitalized companies, including those of Nigerian Breweries, Conoil, Lafarge Africa, Red Star Express, and Cutix Plc, had an impact on the downturn.
“Equities market closed transaction for yesterday negative, as bargain hunting resumes,” GTI Securities Limited reported. Throughout the week, cautious trading is what we anticipate.
“Market breadth relapsed to negative territory today, however buyers mitigated the day’s loss as we continue to observe varied sectoral performance amid mild cherry-picking operations in the banking sector,” according to Vetiva Dealing and Brokerage. A similar trading pattern is anticipated to continue into tomorrow’s session.
Additionally, the market breadth ended down, with 18 losers and 17 winners. Fidson Healthcare experienced the greatest price increase, rising 9.82% to settle at N12.30 kobo. Following Learn Africa, which increased by 9.78% to close at N2.47, UACN Property Development Company (UPDC) increased by 9.71% to close at N1.13 kobo.
Regency Alliance Insurance increased by 7.69% to close at 28 kobo, while Prestige Assurance increased by 8.33% to close at 37 kobo. Conoil, on the other hand, finished at N25.95 kobo and led the losers’ chart by 9.90%.
Following with losses of 9.09% apiece, R.T. Briscoe Nigeria and Red Star Express closed at 40 kobo and N2.50, respectively. Unity Bank lost 6.69% to close at 42 kobo, while Cutix lost 7.69% to close at N2.28.
However, the overall volume of shares traded increased by 52.82 percent to 194.121 million, with a value of N2.822 billion, and 4,899 deals. Transnational Corporation of Nigeria (Transcorp) share transactions, totaling 25.074 million shares valued at N31.770 million, topped the list of activities.
Following with 20.176 million shares valued at N413.020 million, Guaranty Trust Holding Company (GTCO), followed by United Bank for Africa (UBA), which sold 17.594 million shares for N131.221 million.
While FBN Holdings (FBNH) traded 11.634 million shares for N131.920 million, AIICO Insurance exchanged 13.608 million shares worth N8.323 million.
