The Nigerian Exchange Limited (NGX) maintained its bearish run in Thursday’s trading session, with the All-Share Index (ASI) falling by 0.18% to close at 67,084.95 points. This downward trend reflects a challenging market environment.
Equities also experienced a loss of N66 billion, resulting in a decline in market capitalization to N36.857 trillion from N36.923 trillion the previous day. This decrease in market capitalization raises concerns among investors about the overall performance of the stock market.
The market witnessed a decrease in trading activity, with 5,205 deals being executed compared to 5,998 deals on Wednesday. This decline suggests a cautious approach by traders in the face of market uncertainties.
Furthermore, there was a significant drop in trading volume, as only 267.65 million shares were traded today—a decline of 18.8% compared to the 329.66 million shares traded yesterday. This decrease in trading volume indicates a lack of enthusiasm among market participants.
However, there was a slight improvement in trading value, with the market recording N5.11 billion in value traded, as opposed to yesterday’s N4.41 billion. This increase in trading value shows that despite the bearish trend, some investors still found opportunities in the market.
Among the most traded stocks in terms of volume, Fidelity Bank (-1.82%) took the lead with 39.83 million units traded. It was followed by CHAMS (+3.65%) with 23.50 million units, ACCESSCORP (+0.30%) with 20.56 million units, UBA (+0.27%) with 19.01 million units, and JAPAULGOLD (0.00%) with 18.25 million units.
When it comes to value traded, NESTLE (+2.94%) emerged at the top with N1.748 billion, followed by STANBIC (-3.21%) with N495.12 million, GTCO (-1.55%) with N482.13 million, UBA (+0.27%) with N357.27 million, and ACCESSCORP (+0.30%) with N347.75 million. These stocks saw substantial activity despite the overall market decline.
The NGX’s bearish performance calls for caution and strategic decision-making from investors. As the market continues its turbulent journey, market participants must carefully analyze the evolving dynamics to make informed investment choices.
