NGX benchmark index relapses as market cap sheds N5.17bn


By Motolani Oseni

The equities market of the Nigerian Exchange Limited (NGX) at the end of mid week trading activities relapsed as market capitalisation declined by N5.17billion.

Specifically, the domestic bourse slipped as the benchmark index closed 0.01 per cent weaker to settle at 63,757.23 points, while market capitalisation shed N5.17bn to close at N34.72trillion.

Gains in MTNN (+1.85%), GTCO (+0.87%) and NB (+4.47%) were offset by selloffs in ZENITHBANK (-1.68%), GEREGU (-10.00%) and ACCESSCORP (-0.60%) keeping the market in the negative terrain.

As a result, the year-to-date (YTD) return slipped to 24.40%, while analysis of yesterday’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 76.45 per cent.

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A total of 473.49m shares valued at N10.08billion were exchanged in 7,403 deals. JAPAULGOLD (-1.23%) led the volume chart with 77.98million units traded while GEREGU (-10.00%) led the value chart in deals worth N4.86billion.

Market breadth closed negative at a 1.22-to-1 ratio with declining issues outnumbering advancing ones. GEREGU (-10.00%) topped 21 others on the laggard’s log , while HONYFLOUR (+10.00%) led 17 others on the leader’s table.

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