NGX sheds 0.13% as equity market dips

The Nigerian Exchange (NGX) closed negative on Wednesday, marking its second decline in August as the All-Share Index (ASI) fell by 191.11 points, or 0.13 per cent, to settle at 145,864.78 points.

Market capitalisation dropped by N121bn to close at N92.3tn, despite a 5 per cent rise in trading volume to 1.34 billion shares. Turnover slipped 17 per cent to N20.18bn, while the number of deals fell by 1 per cent to 30,737.

A total of 128 equities were traded, with 53 gainers and 21 losers. Caverton Offshore Support Group Plc led the gainers, rising 10 per cent to N7.92 per share. Other top gainers included Learn Africa Plc (10%, N7.70), FTN Cocoa Processors Plc (10%, N6.93), Tripple Gee and Company Plc (10%, N5.17), RT Briscoe Plc (10%, N3.74), and Prestige Assurance Plc (10%, N2.42).

On the losers’ chart, Thomas Wyatt Nigeria Plc shed 10 per cent to close at N3.42. UACN Property Development Company Plc fell 7.94 per cent to N8.00, Legend Internet Technologies Plc dropped 6.35 per cent to N5.60, Berger Paints Nigeria Plc declined 6.16 per cent to N32.00, Champion Breweries Plc lost 5.75 per cent to N16.38, and Nigerian Breweries Plc dipped 3.90 per cent to N71.50.

Universal Insurance Company Plc led activity by volume with 193.43 million shares traded, followed by Japaul Gold and Ventures Plc (123.16m), Veritas Kapital Assurance Plc (93.22m), Access Holdings Plc (84.99m), and Sterling Financial Holdings Company Plc (68.20m).

In value terms, Access Holdings Plc topped with transactions worth N2.35bn, ahead of Zenith Bank Plc (N1.86bn), Aradel Holdings Plc (N1.65bn), Guaranty Trust Holding Company Plc (N1.10bn), and United Bank for Africa Plc (N1.08bn).

Sector performance was mixed, with the NGX Insurance Index surging 7.94 per cent and the Oil and Gas Index inching up 0.12 per cent. Conversely, the NGX Top 30 Index and NGX Industrial Index both fell 0.33 per cent, the Main Board Index shed 0.01 per cent, and the Premium Index declined 0.37 per cent.