The Nigerian stock market has extended its decline from the previous session, resulting in an overall decrease in market capitalisation of N268 billion.
The Nigerian Exchange Limited All Share Index (NGX ASI) fell by 475.18 basis points, or 0.48%, closing at 98,228.50 points. Market capitalisation similarly dropped to N55.555 trillion.
As a result, the NGX ASI’s Month-to-Date return remained unchanged, while the Year-to-Date return moderated to +31.4%.
Sector-wise, the NGX Banking Index declined by 3.1%, the NGX Insurance Index dropped by 1.5%, and the NGX Consumer Goods Index depreciated by 0.7%. However, the Industrial Goods and Oil & Gas indices remained stable.
Market breadth, reflecting investor sentiment, ended negatively with 15 stocks advancing and 28 declining. Japaul Gold & Ventures, May & Baker Nigeria, and Presco each recorded the highest price gain of 10%, closing at N2.09, N6.60, and N291.50 per share, respectively.
FTN Cocoa Processors followed with an 8.16% gain, closing at N1.59, while Wema Bank rose by 7.28% to close at N8.10 per share.
On the flip side, Unity Bank led the losers’ chart with a 10% decline to N1.62 per share. FBNH followed closely with a 9.91% decrease to N25.45, and Champion Breweries depreciated by 9.78% to N3.32 per share. Livestock Feeds also saw a decline of 9.71% to N1.58, while Wapic Insurance dropped by 9.33% to 68 kobo per share.
Total volume traded increased by 0.93% to 425.664 million units, valued at N8.349 billion, across 9,620 deals. United Bank of Africa (UBA) topped the activity chart with 102.233 million shares valued at N2.675 billion.
Access Holdings followed with 49.180 million shares worth N878.406 million, while Transcorp traded 30.139 million shares valued at N394.749 million.
Japaul Gold & Ventures traded 28.754 million shares valued at N59.060 million, and AIICO Insurance sold 22.648 million shares worth N22.779 million.
