Bearish Investors Drive NGX into Negative Territory on Friday

On Friday, bearish investors dominated the trading session on the Nigerian Exchange (NGX), causing it to close in the red.

The All-Share Index (ASI) traded 1.39% lower, closing at 67,324.59 index points, compared to the previous day’s 68,271.14 index points. The market capitalization of equities also dropped by N518 billion, closing at N36.847 trillion, which is 1.39% lower than the N37.365 trillion recorded in the previous trading session.

Here are the key market indices for the day:

• NGX ASI: 67,324.59 points
• % Day Change: -1.39%
• % Year-to-Date Change: +31.36%
• Market Cap: N36.847 trillion
• Volume Traded: 1.03 billion
• Value: N5.82 billion
• Number of Deals: 6,370

Performance of Stocks: The market breadth was negative, with NEM (10.00%) leading the gainers and OANDO (-9.89%) leading the losers. UNIVINSURE was the most traded equity in terms of volume during the session.

Top Gainers:

• NEM: +10.00%
• LASACO: +9.68%
• CORNERST: +9.60%

Top Losers:

• OANDO: -9.89%
• DANGOTE CEMENT: -8.49%
• IKEJA HOTEL: -8.09%

Top Traded Stocks: There was lower trading activity in terms of volume compared to the previous day, with 1.03 billion units of shares traded. UNIVINSURE was the top-traded stock in terms of volume, with 670.23 million units traded, followed by STERLING (65.17 million) and OANDO (60.09 million). In terms of value traded, OANDO (N719.98 million) led, followed by ACCESS HOLDINGS (N561.45 million) and UBA (N427.86 million).

SWOOTs Watch: Stocks with a market capitalization of over one trillion (swoot) saw mixed results. DANGOTE CEMENT (-8.49%) and GTCO (-0.14%) experienced negative trading sessions, while ZENITH BANK (0.15%) performed positively. BUA CEMENT, BUA FOODS, SEPLAT ENERGY, MTN NIGERIA, and AIRTEL AFRICA all closed unchanged.

FUGAZ Update: Tier 1 banks had mixed trading sessions, with UBA (2.65%), ACCESS HOLDINGS (2.07%), and ZENITH BANK (0.15%) recording positive sessions. However, GTCO (-0.14%) closed negatively, and FBN HOLDINGS remained unchanged…[CONTINUE READING HERE]>>