New Telegraph

February 24, 2024

NGX records N12bn midweek decline

Trading activities on the floor of the Nigerian Exchange Limited (NGX) yesterday witnessed another share price loss as bears hold grip on the local bourse following the sell-off. The local bourse recorded 21 gainers against 18 losers. Consequently, the All- Share Index dipped 23.08 basis points or 0.06 per cent to close at 38,233.68 index points as against 38,256.76 recorded the previous day while market capitalisation of equities depreciated by N12 billion from N19.940 trillion the previous day to N19.928 trillion as market sentiment remained on the negative territory.

Meanwhile, a turnover of 203.08 million shares exchanged in 3,594 deals was recorded in the day’s trading. The premium sub-sector was the most active (measured by turnover volume); with 47.95 million shares exchanged by investors in 1,047 deals.

Volume in the sub-sector was largely driven by activities in shares of FBNH Plc and Zenith Bank Plc. Also, the insurance sub-sector, boosted by activities in shares of Mutual Benefits Assurance Plc and Sovereign Trust Insurance Plc, followed with a turnover of 47.63 million shares in 263 deals. Further analysis of the day’s trading showed that in percentage terms, FGS202251 topped the day’s gainers’ table by 17.94 per cent to close at N106.15 per share while John Holt Plc followed with 9.68 per cent to close at 68 kobo per share. Vitafoam Plc added 9.19 per cent to close at N10.10 per share.

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