The Nigerian Exchange Limited recorded a bearish trend in 2024 as the All-Share Index crashed by 1.4 per cent to close at 82,024.38 points from Tuesday’s 83,191.84 points.
The development came after days of an unstopped boom in NGX.
Equities lost about N639 billion today as the market capitalization dropped to N44.885 trillion from yesterday’s N45.524 trillion.
Regarding trading volume, there was a 16.3 per cent appreciation to 1.64 billion units from yesterday’s 1.41 billion units. Regarding trading value, there was a 17 per cent appreciation to N25.38 billion from yesterday’s N24.68 billion.
Further analysis indicated that top gainers are CADBURY, +9.92 per cent to close at N19.95, VERITASKAP, +9.76 per cent to close at N0.45, LINKASSURE, +8.70 per cent to close at N1.50, TRANSCOHOT, +7.24 per cent to close at N100.00, PRESTIGE, +7.24 per cent to close at N0.53 and BUAFOODS, +5.82 per cent to close at N220.00.
Conversely, the top losers are MAYBAKER, -10.00 per cent to close at N5.49, CHAMS, -10.00 per cent to close at N2.16, CAVERTON, -10.00 per cent to close at N2.07, FTNCOCOA, -10.00 per cent to close at N1.98, CORNERST, -10.00 per cent to close at N1.80 and CONHALLPLC, -10.00 per cent to close at N1.35.
Regarding top-traded stocks in terms of volume, TRANSCORP (-9.94 per cent) led with 117.64 million units, followed by ACCESSCORP (-6.23 per cent) with 116.65 million units, STERLINGNG (-9.18 per cent) with 116.29 million units, JAIZBANK (+5.40 per cent) with 100.07 million units, and AIICO (-8.70 per cent) with 91.79 million units.
Meanwhile, in terms of value, GTCO (-8.71 per cent) led with N3.28 billion, followed by ACCESSCORP (-6.23 per cent) with N3.26 billion, ZENITHBANK (-9.93 per cent) with N2.46 billion, UBA (-9.97 per cent) with N2.43 billion, and GEREGU (0.00 per cent) with N1.69 billion.
On Wednesday’s trading sentiment was primarily negative for stocks worth over N1 trillion, as ZENITHBANK (-9.93 per cent), UBA (-9.97 per cent), GTCO (-8.71 per cent ), MTNN (-4.41 per cent), and BUACEMENT (-0.05 per cent) recorded price losses, DANGCEM (+3.83 per cent) and BUAFOODS (+5.82 per cent) recorded price gains, and AIRTELAFRI and SEPLAT recorded no price changes.
Still, FBNH and ACCESSCORP declined by -9.79 per cent and -6.23 per cent, respectively, to fall below the N1 trillion market cap one day after crossing the mark.
NGX records first losses in 2024 as ASI declines by 1.4%
