Equities Market opens the week bearish as NGXASI declines by 0.34%

Nigeria’s Equities Market closed negative on Monday to begin the week   with 0.33% as the NGX-ASI decreased to 70,612.81 from 70,849.38 recorded at the close of the previous trading day; indicating a YTD return of +37.78%.

Market capitalization creased by N132.61 billion to N38.795 trillion from N38.927 trillion recorded at the close of the previous trading day, while the market turnover increased to N7.75 billion from N5.56 billion.

At the end of the first weekday of trading , a total of 474,386,602 shares in 7,630 deals, corresponding to a market value of NGN 7,751,150,881.21, were traded. Compared with the previous NGX trading day (Friday, November 10), today’s data shows 15% decline in volume, 39% improvement in turnover, and 21% improvement in deals. The current market capitalization of the Nigerian Stock Exchange is NGN 38.8 trillion.

In the aggregate, 123 NGX listed equities participated in trading, ending with 26 gainers and 19 losers. Aluminium Extrusion Industries led the gainers with 10% share price appreciation closing at NGN 7.15 per share, followed by RT Briscoe (+10%), MeCure Industries (+9.95%) and McNichols (+9.84%).

On the losing side, Japaul Gold and Ventures came out last with an end-of-day price depreciation of 9.09% at NGN 1.80 per share, followed by BUA Cement (-7.76%), Veritas Kapital Assurance (-7.41%) and Universal Insurance Company (-4%). Fidelity Bank recorded the highest volume of 94 million traded shares, followed by Japaul Gold and Ventures (66m), United Bank for Africa (54.9m) and Transcorp Nigeria (26m).

Regarding the performance of NGX market indices, the benchmark NGX All-Share Index (ASI) shed 236.57 (-0.33%) points to close at 70,612.81, representing a 1-week gain of 0.19%, a 4-week gain of 5.33%, and an overall year-to-date gain of 37.78%.

Other remarkable indices that performed were the NGX Top 50 Index (+0.09%; +1.04% 1WK; +45.27% YTD), NGX Top 30 Index (-0.37%; +0.06% 1WK; +40.81% YTD), NGX Premium Index (+0.91%; +1.39% 1WK; +41.48% YTD), NGX Banking Index (+0.38%; +0.89% 1WK; +75.14% YTD), NGX Consumer Goods Index (-0.02%; +0.17% 1WK; +95.19% YTD), and NGX Insurance Index (-0.09%; +1.61% 1WK; +66.78% YTD).