By Chiamaka Okechukwu – Sep 21, 2023
The Nigerian Exchange Group Limited (NGX) witnessed a further decline in its key market index as 30 stocks recorded losses, resulting in a 0.09 percent drop in the All-Share Index of listed equities. The index closed at 68,271.14, down by 64.58 basis points from the previous trading day’s closing of 68,335.72.
This consecutive drop in the market index reflects the prevailing bearish sentiment that began on the exchange’s midweek trading session. Investors lost N35 billion in market capitalization, with the total market capitalization closing at N37.365 trillion, lower than the previous day’s N37.400 trillion.
Despite the downturn, Thursday’s trading session saw an increase in the value and volume of equities traded. A total of N5.82 billion was traded in 1123.85 million shares across 7,949 deals.
Universal Insurance Plc, OANDO, ACCESSCORP, UBA, and CHAMS were the top-traded stocks in terms of volume and value respectively.
The day’s trading activities saw 20 stocks recording gains, while 30 stocks witnessed losses.
JOHN HOLT emerged as the top gainer, with its share price increasing by 9.55 percent to close at N1.72k. This was followed closely by OMATEK and DAARCOMM, which recorded a 9.52 percent profit on their respective share prices, closing at N0.46k and N0.23k. MBENEFIT also experienced a gain, with its share price increasing by 9.30 percent to close at N0.47k.
On the other hand, OANDO recorded the highest loss, with its share price dropping by 9.93 percent to close at N13.15k. LASACO followed suit with a 9.73 percent decline in its share price, closing at N1.86k. CHAMS shares also witnessed a significant drop of 9.59 percent, closing at N1.32k.
