Nigerian Stock Market Declines by 0.21% as Investors Take Profit in GTCO, 29 Others
The Positive Voice News gathered that the NGX ASI declined by 202.75 basis points or 0.21% to close at 97,626.27 basis points, with the stock market Year-to-Date returns settled at +30.60%.
The Nigerian stock market commenced the week on a negative note, with the Nigerian Exchange Limited (NGX) All-Share Index (ASI) declining by 0.21% due to profit-taking activities in Guaranty Trust Holding Company Plc (GTCO) and 29 other stocks.
The Positive Voice News gathered that the NGX ASI declined by 202.75 basis points or 0.21% to close at 97,626.27 basis points, with the stock market Year-to-Date returns settled at +30.60%.
According to The Positive Voice News, the overall market capitalisation value lost N123 billion to close at N59.169 trillion.
The Positive Voice News reports that the NGX Banking Index (-1.6%), NGX Oil & Gas Index (-0.2%), and NGX Insurance Index (-0.2%) settled lower, while the NGX Consumer Goods Index (+0.7%) was the sole gainer of the day.
The market breadth closed slightly negative, with 29 stocks gaining relative to 30 decliners. Haldane McCall recorded the highest price gain of 10% to close at N5.61 per share.
Naija247news gathered that the total volume traded increased by 83.09% to 671.260 million units, valued at N10.640 billion, and exchanged in 10,464 deals.
According to The Positive Voice News, transactions in the shares of FBN Holdings (FBNH) topped the activity chart with 245.252 million shares valued at N6.227 billion.
Looking forward, United Capital Plc said “the equities market is expected to retain its buy interest as investors cherry-pick undervalued stocks.” However, the firm noted that “given the high interest rates in the fixed income and money markets, we expect some bearish undertone to persist in the equities market.”
Source: Naija247News
