Sunday, February 25, 2024

ASI dips by 0.06% at NGX as investors lose N21.14bn

BY FESTUS OKOROMADU, ABUJA

The Nigerian stock market opened the week on Monday with an extension of fatalities for the third consecutive session as it closed lower by 38.49 basis points.

The NGX All-Share Index declined by 0.06 percent closing at 66,876.92 basis points, compared to the previous day’s gain of 0.27 percent, which closed at 66,915.41 basis points.

Losses in the share prices of GTCO, DANGSUGAR, FIDELITYBNK, which declined by 0.85 percent, 3.94 percent and 0.61 percent respectively, were the primary drivers of the market as the offset the gains in ZENITHBANK, ACCESSCORP, and NB which appreciated by 0.61 percent, 0.61 percent and 2.63 percent respectively.

Consequently, the NGXASI year-to-date return fell to 30.49 percent, while the market capitalization lost N21.14 billion to close to N36.74 trillion.

The total volume traded advanced by 52.81 to close at N314.62m, valued at N4.39bn and traded in 6,133 deals.

UBA was the most traded stock by volume with N47.15m, while GTCO was the most traded stock by value with N959.25bn units traded.

At the close of trading, the market recorded 23 gainers, 21 losers, and 72 unchanged. THOMASWY topped the gainers list, while VFDGROUP topped the list of losers.

Thus, market breadth closed positively as the Market Breadth Index is 0.03x.

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