Bad Day For Nigerian Exchange As It Loses ₦83bn

Bad Day For Nigerian Exchange As It Loses ₦83bn
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It was all red alerts for the Nigerian Exchange Ltd., (NGX) as it closed on a bearish note on Monday, causing market capitalization to dip by ₦83 billion, to close at ₦28.542 trillion from ₦28.625 trillion recorded on the last trading day.

The Africa Today News, New York reports that the All-Share Index (ASI) also declined to stand at 52,944.09 points or 0.29 per cent, compared to the 53,098.46 points recorded on Friday.

The market’s negative performance was driven by price depreciation in large and medium capitalized stocks, as 27 stocks declined relative to 20 gainers.

Read Also: ₦70b Wiped Out Of Nigerian Stock Exchange

McNichols recorded the highest price gain of 9.70 per cent to close at N1.47 per share.

NNFM followed with a gain of 9.35 per cent to close at ₦10.90 per share, while Transcorp rose by 8.53 per cent to close at N1.40 per share.

WAPIC rose by 7.14 per cent to close at 45k while CHIPlc gained 7.02 per cent to close at 61k per share.

On the other hand, Champion led the losers’ chart by 9.84 per cent to close at ₦3.94 per share.

Glaxosmith and International Breweries depreciated by 9.49 per cent and 9.09 per cent each to close at ₦7.15 and N8 per share, respectively.

Neimeth followed with a decline of 8.33per cent to close at ₦1.76 per share while WAPIC lost 8.28 per cent to close at ₦28.80 per share.

The total volume of stocks traded was 374.18 million units, valued N4.96 billion, and exchanged in 6,854 deals.

Transactions in the shares of Transcorp topped the volume chart with 88.59 million shares valued at N118.99 million.

Jaiz Bank followed with 87.42 million shares worth N77.86 million, while ACCESSCORP traded 28.74 million shares valued at N278.56 million.

International Breweries traded 16.21 million shares valued at N130.24 million, while Ikeja Hotel transacted 11.38 million shares valued at N12.63 million.

 

Africa Daily News, New York

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