NGX begins week in red as investors lose N297bn
CHIGOZIE AMADI
The Nigerian Exchange opened the trading week on a negative note as investors lost N297bn in market value at the close of trading on Monday.
The All-Share Index fell by 265.42 points, representing a decline of 0.24 per cent, to close at 108,467.98 points. The market capitalisation also dipped by 0.43 per cent to settle at N68.1tn.
Despite the loss, market activity remained robust with a total of 414.57 million shares exchanged in 16,664 deals, corresponding to a market turnover of N10.71bn. Compared to the previous trading session on Friday, May 9, the volume of transactions declined by 10 per cent, turnover dropped by 4 per cent, while the number of deals rose by 6 per cent.
A total of 127 listed equities participated in trading, with 39 gainers and 28 losers recorded at the close of the session.
Multiverse Mining and Exploration Plc led the gainers’ chart with a 10 per cent increase to close at N11.00 per share. It was followed by Meyer Plc, which also gained 10 per cent to close at N8.80 per share.
Smart Products Nigeria Plc appreciated by 10 per cent to close at N0.55 per share, while Beta Glass Company Plc rose by 9.99 per cent to end trading at N176.70 per share. Honeywell McCallum Ltd gained 9.88 per cent to close at N4.67 per share, while Abbey Mortgage Bank Plc advanced by 9.86 per cent to settle at N7.69 per share.
On the flip side, E-Tranzact International Plc topped the losers’ table with a 10 per cent loss to close at N5.40 per share. Nigerian Aviation Handling Company Plc dropped by 9.64 per cent to N75.00, John Holt Plc shed 9.48 per cent to close at N5.25, while Union Dicon Salt Plc lost 9.47 per cent to end at N7.65 per share. C&I Leasing Plc fell by 8.31 per cent to N3.86, and Linkage Assurance Plc declined by 8.06 per cent to close at N1.14 per share.
In terms of volume, Tantalizers Plc led with 49.2 million shares traded, followed by VFD Group Plc with 48.9 million shares, Access Holdings Plc with 29.4 million shares, and Zenith Bank Plc with 24.3 million shares traded.
Across the various indices, the Top 30 Index dropped by 0.24 per cent, while the Oil and Gas Index gained 0.36 per cent. The Insurance Index appreciated by 0.29 per cent, and the
Industrial Goods Index rose slightly by 0.12 per cent. The Main Board Index slipped by 0.11 per cent, while the Banking Index declined by 0.24 per cent.
Despite the loss recorded on Monday, the ASI still maintains a 1-week gain of 1.66 per cent, a 4-week gain of 4.11 per cent, and a year-to-date return of 5.38 per cent.
The PUNCH reported that investors on the Nigerian Exchange Limited recorded a total turnover of 2.645 billion shares valued at N77bn in 86,110 deals last week, representing an increase from the 2.200 billion shares worth N75.4bn exchanged in 70,329 deals the previous week.
