Business
NGX ends bullish run, crashes by 1.4% to hit 82,024.38 points
For the first time in 2024, the NGX closed a trading day in the bearish region, as the All-Share Index crashed by 1.4% to close at 82,024.38 points, from yesterday’s 83,191.84 points.
Off the back of a boom that saw the NGX appreciate by over 11% in six trading days, it is noteworthy that investors have started taking profit, as 62 stocks recorded losses, against 13 that recorded gains.
Equities lost about N639 billion today as the market capitalization dropped to N44.885 trillion, from yesterday’s N45.524 trillion.
Regarding trading volume, there was a 16.3% appreciation to 1.64 billion units, from yesterday’s 1.41 billion units. While in terms of trading value, there was a 17% appreciation to N25.38 billion from yesterday’s N24.68 billion.
READ ALSO: NGX records highest single-day gain in seven months, ASI crosses 83,000 points
In terms of volume, TRANSCORP (-9.94%) led with 117.64 million units, followed by ACCESSCORP (-6.23%) with 116.65 million units, STERLINGNG (-9.18%) with 116.29 million units, JAIZBANK (+5.40%) with 100.07 million units, and AIICO (-8.70%) with 91.79 million units.
In terms of value, GTCO (-8.71%) led with N3.28 billion, followed by ACCESSCORP (-6.23%) with N3.26 billion, ZENITHBANK (-9.93%) with N2.46 billion, UBA (-9.97%) with N2.43 billion, and GEREGU (0.00%) with N1.69 billion.
Trading sentiment was mostly negative for stocks worth over N1 trillion, as ZENITHBANK (-9.93%), UBA (-9.97%), GTCO (-8.71%), MTNN (-4.41%), and BUACEMENT (-0.05%) recorded price losses, while DANGCEM (+3.83%) and BUAFOODS (+5.82%) recorded price gains. AIRTELAFRI and SEPLAT recorded no price changes.
FBNH and ACCESSCORP declined by -9.79% and -6.23% respectively to fall below the N1 trillion market cap, one day after crossing the mark.
