Nigeria Bourse runs bearish, lost N36 billion in market cap
To end the week, the Nigerian Bourse (NGX) witnessed a decline in investors participation as the equities market lost N36 billion in market capitalization.
The All-share Index (ASI) dropped 64.98 points to close at 65,198.08 points, while the market capitalization added N36 billion to settle at N35,479 trillion.
These figures represent a notable decline from the 65,236.06.36 points and N35,515 trillion recorded on Thursday.
Market Indices
Below are the market indices for today’s trading session:
NGX ASI: 65,198.08 points
% Day Change: -0.10%
% YTD: +27.21%
Market Cap: N35,479 trillion
Volume Traded: 363.18 million
Value: N6.07 billion
Deals: 6,644
How Stocks Performed
GLAXOSMITH was the top performer of the day, with a 10% increase in its share price, closing at N8.90 per share while MEYER was the worst performer, with a 9.83% decrease in its share price to close at N2.66 per share.
The most traded stock by volume on Friday was TRANSCORP, which saw a high turnover of shares. ACCESSCORP recorded the highest value of transactions, as its shares attracted a large sum of money.
Trading activity in the market declined by a notable 6.36%, as the number of deals recorded on the exchange dropped from 7,095 to 6,644 deals on Friday
TOP GAINERS AND LOSERS
GLAXOSMITH, CADBURY, and ABBEYBDS led the market rally today, surging 9.88%, 9.84% and 9.77% to end the session at N8.90, N13.95, and N1.46 per share, respectively. MEYER, ETERNA and IKEJAHOTEL on the other hand, faced the steepest declines of the day with MEYER and ETERNA both plunging by 9.83% and IKEJAHOTEL posting a loss of 9.70%.
Top Traded Stocks
Despite the low level of investors’ participation recorded in the exchange, the market boasted a massive rise in the total value of shares traded. it rose by 19.25% to N6.07 billion, from N5.09 billion recorded on Thursday.
The volume of shares traded declined by 18.44% to 363.18 million from the 445.28 million shares traded on the exchange the previous day.
The top three stocks by volume were TRANSCORP, FBNH, and FCMB. TRANSCORP had the highest volume of 29.28 million shares, followed by FBNH with 28.44 million shares, and FCMB with 26.79 million shares. These stocks accounted for 43.5% of the total volume traded on the market today.
MTNN was the most active stock in the market, with a total turnover of N1,371.6 million. ZENITHBANK came in second, with a trade value of N809.7 million and GTCO in third with a trade value of 528.01 billion.
SWOOTs Watch
The SWOOTs group recorded both rise and declines in their market value at the close of the trading day, as MTN NIGERIA, GTCO, UBA and ZENITH BANK posted gains of 17%, 0.8%, 0.7% and 0.1% respectively.
The latest trading session saw no change in the share prices of AIRTEL AFRICA, DANGOTE CEMENT, BUA FOODS and BUA CEMENT. These companies maintained their market positions amid the fluctuations of other stocks.
FUGAZ Update
ZENITH BANK outperformed it, bringing about an earnings growth of 0.5%. GTCO leads in second with a positive 0.1% earnings growth. FBNH boosted 0.05% earnings growth with ACCESSHOLDINGS and UBA recording losses of 0.35 and 0.15 respectively in their stock prices.
Full Story: https://nairametrics.com/2023/08/06/nigeria-bourse-runs-bearish-lost-n36-billion-in-market-cap/
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