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Home Economy/Technology

Trading on NGX closes on negative notes due to sell-offs

NGX

The Matters Press by The Matters Press
March 14, 2022
Reading Time: 2 mins read
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Trading in Nigerian stock market dips further N83bn

Trading activities on the Nigerian Exchange Ltd. resumed the week on a negative note, due to sell-offs in MTNN, Eternal, Guaranty Trust Bank Company and International Breweries stocks.

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Precisely, the All-Share Index declined by 0.02 per cent to close at 47,428.67 points compared to 47, 437.48 points recorded on Friday.

Also, the market capitalisation closed for trading at N25.561 trillion, compared with N25.566 trillion on Friday; a decrease of N4 billion.

Consequently, the Month-to-Date and Year-to-Date returns settled at an increase of 0.1 per cent and 11.0 per cent, respectively.

However, the market closed with 23 stocks declined and 19 gained.

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R.T Briscoe led the gainers’ chart in percentage terms by 9.59 per cent to close at 80k per share.

Ecobank Transnational Incorporated (ETI) and Prestige Insurance rose by 7.27 per and 6.52 per cent to close N11.80 and 49k per share, respectively.

Niger Insurance followed with 4.55 per cent to close at 23k, while Caverton up by 3.85 per cent to close at N1.35 per share.

Mutual Benefits Assurance also rose by 3.85 per cent to close at 27k, while NGXGroup gained 3.21 per cent to close at N22.5per share.

On the other hand, CGW and Eternal Oil led the losers’ chart in percentage terms by 10 per cent each to close at 99k and N5.04 per share, respectively.

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Royal Exchange followed with 9.92 per cent to close at N1.09, while Veritas Kapital lost 8.7 per cent to close at 21k per share.

Scoa declined 8.13 per cent to close at N2.6, while Cornerstone Insurance shed 8.11 per cent to close at 68k per share.

The total volume traded increased by 10.74 per cent to 1.28 million units valued N7.85 billion exchanged in 4, 735 deals from N7.03 billion in 3,928 deals on Friday.

This was in contrast with 311.50 million shares worth N4.39 billion traded in 4,916 deals on Friday.

Performance indices across sectors was mixed, as the Insurance declined by 1.9 per cent, followed by Consumer Goods with 0.4 per cent as well as Oil and Gas with 0.3 per cent.

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The Banking and Industrial Goods sectors, however, gained by 1.2 per cent and 0.1 per cent, respectively.

The total volume of trades increased by 11.0 per cent to 1.277 billion units, valued N7.92 billion, and exchanged in 4,735 deals.

FCMB was the most traded stock by volume and value at 1.02 billion units, and N3.84 billion, respectively.

Fidelity Bank followed with 38.14 million shares worth N108.87 million, while Zenith Bank traded 28.46 million shares valued N768.12 million.

Transcorp traded 20.99 million shares worth N23.79 million, while Guaranty Trust Bank Holding Company transacted 17.06 million shares worth N445.38 million.

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