The Nigerian Exchange Limited (NGX) recorded a dip in market capitalization of N36 billion, equivalent to a 0.06 percent decline, at the close of trading on Thursday.
Data from the NGX revealed that market capitalization ended at N59.476 trillion, down from its opening value of N59.512 trillion. Similarly, the All-Share Index (ASI) shed 61 points, or 0.06 percent, to close at 98,114.11, compared to 98,174.99 recorded on Wednesday. This brought the Year-to-Date (YTD) return down to 31.21 percent.
The downturn was attributed to losses in major stocks, including Zenith Bank, Access Corporation, FBN Holdings, and Aradel Holdings.
Despite the bearish trend, market breadth remained positive, with 35 gainers outperforming 16 losers on the exchange. Cornerstone Insurance and UPL led the gainers, each advancing by 10 percent to close at N3.30 and N3.36 per share, respectively. On the losing side, Red Star Express Limited dropped 10 percent to close at N4.41 per share.
An analysis of market activity showed a decline in trade turnover compared to the previous session. Transaction values fell by 35.58 percent, with 723 million shares worth N12.84 billion traded in 8,495 deals. This contrasted with the previous session’s 521.92 million shares valued at N19.93 billion traded in 9,420 deals.
Champion Breweries led the activity chart in volume with 300.93 million shares, while Guaranty Trust Holding Company (GTCO) topped the value chart with transactions worth N2.12 billion.
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