New Telegraph

December 10, 2023

Sell pressure underpins NGX’s Weak Performance

The Nigerian stock market recorded negative performance on Thursday due to sell pressure on high- cap stocks, notably GEREGU (-4.78%), GTCO (-1.47%), and ACCESS- CORP (-1.35%), despite gains in MTNN (+0.09%), STANBIC (+0.13%) and UBA (+0.57%).

The Nigerian Exchange Limited ended its four-day winning streak as the benchmark index shed 0.20 percent to close at 52,821.60 points. As a result, the year- to-date (YTD) return fell to 3.06 per cent, while market capitalisation lost N57.70 billion to close at N28.76 trillion.

Analysis of market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 17.16 per cent. A total of 377.14 million shares valued at N9.18 billion were exchanged in 5,879 deals. UBA (+0.57%) led the volume chart with 86.17 million units traded while GEREGU (-4.78%) led the value chart in deals worth N3.92 billion.

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