Sept. 23, 2024
The equities market closed on a negative note on Tuesday, as the market capitalisation dropped by N326 billion or 0.4 per cent.
Specifically, the market capitalisation closed at N89.198 trillion compared to the opening value of N89.524 trillion.
Similarly, the All-Share Index (ASI) declined by 568.62 points or 0.4 per cent, ending the day at 140,929.60, down from 141,498.22 recorded on Monday.
The downturn was primarily driven by profit-taking in key stocks like Dangote Sugar, Wema Bank, Secure Electronic Technology, Access Corporation, Aradel Holdings and 30 others.
Also the market breadth closed negative with 35 losers against 16 gainers.
Dangote Sugar led the decliners’ table, dropping by 10 per cent, to close at N54, Wema Bank followed, falling by 8.27 per cent, settling at N18.85 while Secure Electronic Technology lost by 6.25 per cent, closing at 75k per share.
Access Corporation dipped by 4.98 per cent, finishing at N24.80 and Aradel Holdings decreased by 4.76 per cent, ending the session at N560 per share.
Conversely, Thomas Wyatt Nigeria led the advancers’ table, increasing by 9.80 per cent, closing at N2.80 while Chellaram grew by 9.59 per cent, settling at N16 per share.
RT Briscoe gained by 9.50 per cent, closing at N3.29 and Custodian Investment rose by 9.40 per cent, ending the session at N48.30 per share.
Also, NGX Group soared by 6.99 per cent, closing at N58.95 per share.
A study of the market activity revealed increase in the market volume and value with decline in the deals, as 759.1 million shares worth N25.7 billion were exchanged across 23,657 transactions.
This is compared to 488.5 million shares valued at N13.7 billion that was traded in 28,621 deals.
Meanwhile, Consolidated Hallmark Holdings topped the activity chart in volume with 169.6 million shares worth N644.7 million.
Fidelity Bank sold 52.5 million shares valued at N1.1 billion and GTCO traded 45 million shares worth N4.1 billion. (NAN)
