ASI Declines Results In 110bn loss for Investors

The market capitalization of the Nigerian Exchange Limited (NGX) fell by N111 billion to close at N55.283 trillion on Monday, marking the second negative day of the week for the company.

The All-Share Index also saw a decline of 0.24 percent, or 228 points, to close at 96,205.84 points, as opposed to the 96,433.54 points reported on Friday.

In a similar vein, the Year-To-Date (YTD) return saw a 28.66 percent decrease. With 34 winners and 20 losers, the market breadth concluded positively nevertheless. Transnational Power and Tier-one banks like Zenith Bank and Access Corporation were the main culprits for the market collapse.

Eterna and Tantalizers led by ten percent apiece to close at N33 and 77k per share, respectively, on the gainer’s table. UACN increased by 9.81 percent to close at N22.95 a share, FTN Cocoa gained 9.93 percent to close at N1.66, and Oando followed with a 9.95 percent rise to close at N89.50.

Conversely, Transpower trailed by 9.99 percent to conclude at N310.70 per share, while Julius Berger lead the losers’ table by 10% to close at N153.45.

UPL dropped by 8.99 percent to close at N2.43, Cutix fell by 6% to close at N2.82 a share, and McNichols lost 9.40 percent to close at N1.35.

Upon closer examination of the market activity, it was observed that trade turnover had increased in comparison to the previous session, with a 21.82 percent increase in transaction value. In contrast to the 392.51 million shares valued at N12.02 billion moved in 7,981 deals reported in the previous session, investors traded 774.38 million shares valued at N14.65 billion in 10,412 deals.

On the activity chart, Zenith Bank led in value at N6.42 billion, while Jaiz Bank was the most traded stock in terms of volume at 247.04 million shares.