NGX: Subdued Trading Activity Leads To Depreciation As Market Cap Declines To N55.87trn

Investors on the Nigerian Exchange experienced a tepid trading session on Wednesday, resulting in a marginal decline in market capitalization to N55.87 trillion.

Despite efforts to stimulate activity, the All-Share Index saw a slight dip of 0.002%, closing at 102,106.31 points and causing investors to lose N1 billion.

Trade volume dwindled to 341.92 million units from the previous day’s 494.19 million units, while the value of traded units decreased by 15.68% to N6.41 billion. Furthermore, the number of trades plunged by 17.82% to 9,665 deals, following a downward trend observed in the past two trading days.

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Market breadth remained negative, indicating prevailing investor sentiments with 19 gainers and 36 losers. Notable gainers included Meyer Plc, soaring by 10% to close at N5.72; Tripple G, climbing 9.84% to N4.13, and Juli Plc, marking a 9.09% increase to N0.84.

Conversely, AIICO Plc led the losers’ chart with a 9.92% decline to N1.18; Cadbury Nigeria Plc followed suit, dipping by 9.50% to N21.90, while Guinea Insurance Plc experienced an 8.93% decrease to N0.51, despite reporting a profit of N249.43 million for the fiscal year 2023.

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Transcorp Plc, Guaranty Trust Holding Company Plc, and FBN Holdings emerged as the volume and value drivers of the day’s market trend, indicating areas of continued investor interest and activity amidst the subdued overall trading environment.

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