NGX Experiences Market Correction with a 1.4% Decline to 82,024.38 Points

In a notable shift for the first time in 2024, the NGX witnessed a bearish trend, closing with a 1.4% decrease as the All-Share Index settled at 82,024.38 points, down from yesterday’s 83,191.84 points.

Following an impressive 11% surge over the past six trading days, investors have started capitalizing on profits, resulting in 62 stocks registering losses compared to 13 that recorded gains. Today’s market performance saw equities lose approximately N639 billion, causing the market capitalization to dip to N44.885 trillion, a drop from yesterday’s N45.524 trillion.

Key Metrics for Today’s Trading Session:

• NGX All-Share Index: 82,024.38 points
• % Day Change: -1.40%
• Day’s Lowest: 81,413.08 points
• Day’s Highest: 83,234.64 points
• % YTD: +9.70%
• Market Cap: N44.89 trillion
• Volume Traded: 1,641 million units
• Value Traded: N25.38 billion

Top Gainers:

1. CADBURY: +9.92% to close at N19.95
2. VERITASKAP: +9.76% to close at N0.45
3. LINKASSURE: +8.70% to close at N1.50
4. TRANSCOHOT: +7.24% to close at N100.00
5. PRESTIGE: +7.24% to close at N0.53
6. BUAFOODS: +5.82% to close at N220.00

Top Losers:

1. MAYBAKER: -10.00% to close at N5.49
2. CHAMS: -10.00% to close at N2.16
3. CAVERTON: -10.00% to close at N2.07
4. FTNCOCOA: -10.00% to close at N1.98
5. CORNERST: -10.00% to close at N1.80
6. CONHALLPLC: -10.00% to close at N1.35

 

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Top Traded Stocks:

Volume:

1. TRANSCORP (-9.94%) – 117.64 million units
2. ACCESSCORP (-6.23%) – 116.65 million units
3. STERLINGNG (-9.18%) – 116.29 million units
4. JAIZBANK (+5.40%) – 100.07 million units
5. AIICO (-8.70%) – 91.79 million units

Value:

1. GTCO (-8.71%) – N3.28 billion
2. ACCESSCORP (-6.23%) – N3.26 billion
3. ZENITHBANK (-9.93%) – N2.46 billion
4. UBA (-9.97%) – N2.43 billion
5. GEREGU (0.00%) – N1.69 billion

SWOOT and FUGAZ Update:

Trading sentiment turned predominantly negative for stocks valued over N1 trillion, with ZENITHBANK, UBA, GTCO, MTNN, and BUACEMENT experiencing price losses. Conversely, DANGCEM and BUAFOODS recorded gains, while AIRTELAFRI and SEPLAT remained unchanged. FBNH and ACCESSCORP both declined by -9.79% and -6.23%, respectively, falling below the N1 trillion market cap one day after crossing the threshold.