NGX market cap dips N5.18bn as investors cashout on Geregu

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The market capitalisation of the Nigerian Exchange Limited dropped by N5.18 billion on Thursday as the shares of Geregu Plc lost 9.02 percent.

Uba Group

Activity on the Lagos bourse was mixed albeit with a bearish tilt as the benchmark index closed marginally lower by 0.02 percent to close at 47,524.38 points – the lowest point since 7 October.

Selloffs in GEREGU offset the investors interest in ZENITHBANK (+0.51%), GTCO (+0.59%), FBNH (+2.15%) and UBA (+1.45%).

Despite the loss, the market remains on track for it’s first weekly gain in five (5) weeks.

 As a result, the ASI’s year-to-date (YTD) return fell to 11.26 percent, while the market capitalisation lost N5.18bn to close at N25.88trn.

Analysis of today’s market activities showed that trade turnover settled lower relative to the previous session, with the value of transactions decreasing by 42.83 percent. A total of 86.55million units of shares valued at N2.09billion were exchanged in 3,264 deals. GTCO (+0.59%) led the volume chart with 19.15m units traded while AIRTELAFRI (+0.00%) led the value chart in deals worth N923.22million.

Market breadth closed positive at a 1.2-to-1 ratio, with advancing ones outnumbering declining ones. HONYFLOUR (+9.79%) led eleven (11) others on the gainer’s table, while UACN (-9.76%) topped nine (9) others on the laggard’s log