NGX Records N35.29 Billion in Share Transactions Amid Market Downturn
The Nigerian Exchange Ltd. (NGX) witnessed significant trading activity on Tuesday, with investors exchanging 733.05 million shares valued at N35.288 billion across 16,619 transactions. This marks a notable increase compared to the previous session’s 500.59 million shares worth N12.110 billion traded in 17,637 deals.
Top Traded Stocks
Fidelity Bank led the market activity with 285.15 million shares worth N5.774 billion, followed by:
- MTN Nigeria – 86.850 million shares (N20.931 billion)
- Access Corporation – 35.56 million shares (N851.27 million)
- Universal Insurance – 29.810 million shares (N15.188 million)
- Guaranty Trust Holding Company – 28.510 million shares (N1.935 billion)
Market Performance Declines
Despite the high trading volume, the stock market experienced a downturn, with investors losing N1.116 billion. Key indicators reflected this decline:
- Market capitalization dropped by 0.70% to N65.577 trillion (from N66.693 trillion).
- The All-Share Index (ASI) fell by 1.17% to 105,931.18 points (from 106,116.18).
Gainers and Losers
The market breadth remained positive with 33 gainers against 19 losers:
Top Gainers
- Legend Internet Plc (+10% to N8.25)
- ABC Transport (+9.94% to N1.88)
- Cadbury Nigeria (+9.91% to N32.15)
- Champion (+9.79% to N4.71)
- Eterna (+9.46% to N48.00)
Top Losers
- Livestock Feeds (-9.71% to N7.22)
- Multiverse Mining (-9.62% to N7.05)
- McNichols Plc (-9.47% to N1.72)
- Omatek (-9.23% to 59k)
- MTN Nigeria (-6.07% to N240.00)
The downturn was attributed to profit-taking in major stocks, including MTN Nigeria, Africa Prudential, PZ, and First Bank Holding Company.
Source: Daily Nigerian