Business & Economy

Equities Market Index Slumps 3.23% As Capitalization Plunged N859.18bn

The equities market of the Nigerian Exchange Limited (NGX) on Thursday, further extended its upside trend as the All-Share Index plunged 3.23 per cent.

The equalities market slump is witnessed to be the most in a single day since 12 March 2020, to close at 47,259.27 points – the lowest level in almost six months (12 April).

BrandNewsDay reports that the market capitalization cleared N859.18billion to close at N25.74trillion, due to selloffs in the two NGX-listed telecom stocks, AIRTELAFRI (-10.00%), which suffered its most significant decline since 9 July 2021, and MTNN (-1.20%), weighed heavily on the overall market.

Advertisement

As a result, the ASI’s year-to-date (YTD) return fell to 10.63 per cent, while Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions increasing by 13.39 per cent. A total of 140.67m units of shares valued at N2.52billion were exchanged in 4,371 deals.

GTCO (-2.02%) led the volume chart with 27.73m units traded, while GEREGU (+9.91%) led the value chart, for the second consecutive session, in deals worth N586.76million.

Market breadth closed negative at a 1.64-to-1 ratio, with declining issues outnumbering advancing ones. AIRTELAFRI (-10.00%) led twenty-two (22) others on the laggard’s table, while GEREGU (+9.91%) topped thirteen (13) others on the gainer’s log.

Advertisement
Facebook Comments
Brand News Day

Recent Posts

Apple Unveils iPhone 17 Air, Slick, Slimmer Than Previous Models (PHOTOS)

Apple Inc is set to present a slimmer iPhone 17 Air model, marking a potential…

2 weeks ago

Six-Year-Old Ella Shoots, Kills American Police Officer In Mother’s Defense

A six-year-old girl, Ella, fatally shot a 28-year-old American police officer last month after witnessing…

2 weeks ago

LIRS Urges Taxpayers To Meet March 31 Deadline For Annual Tax Return Submission

The Lagos State Internal Revenue Service (LIRS) reminds all individual taxpayers, including self-employed individuals, those…

2 weeks ago

Stanbic IBTC Bank Partners Autochek To Boosts Car Ownership, Disburses N4Bn

Stanbic IBTC Bank, a prominent financial institution in Nigeria, has partnered with Autochek, an innovative…

3 weeks ago

Stanbic IBTC PMI®: Output Growth Accelerates To Fastest In Just Over One Year

The headline figure derived from the survey is the Stanbic IBTC PMI® - Purchasing Managers’…

3 weeks ago

Stanbic IBTC Bank Reintroduces Its Private Banking Offerings To Empower Nigerians Build Lasting Wealth

Stanbic IBTC Bank, a subsidiary of Stanbic IBTC Holdings and a leading financial service solutions…

3 weeks ago

This website uses cookies.