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Nigerian exchange closes with marginal loss, ASI down by 0.01%

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Nigerian exchange closes with marginal loss, ASI down by 0.01%

The Nigerian Exchange (NGX) closed its latest trading session with a marginal loss, as the All-Share Index (ASI) fell by 11.10 points, settling at 98,070.28.

This decline occurred following a modest uptick in the previous session, with market capitalization decreasing by N6.728 billion to N59.425 trillion.

Despite the overall drop in the ASI, trading activity surged significantly, with total volumes increasing by 49.95% to 358.85 million shares, up from 239.30 million shares in the prior session.

The value of trades also saw a remarkable rise, jumping 86.66% to N11.96 billion, compared to N6.40 billion in the previous day’s trading. JAPAULGOLD led the trading volume, while SEPLAT dominated in terms of trade value, contributing N5.00 billion.

The market’s downward movement was primarily influenced by declines in several key stocks. ARADEL topped the losers’ chart with a 9.99% decrease, followed by DEAPCAP, which fell by 9.66%, and CHAMPION, down 8.80%. Conversely, the gainers’ list was topped by MCNICHOLS, which rose 10%, followed by UPL with a 9.41% increase and DAARCOMM, up by 9.09%.

Market Summary

Current ASI: 98,070.28 points
Previous ASI: 98,081.38 points
Day Change: -0.01%
Market Capitalization: N59.425 trillion
Volume Traded: 358.85 million shares
Value Traded: N11.96 billion
Total Deals: 6,719

Top Gainers

MCNICHOLS: +10% to N1.43
UPL: +9.41% to N2.79
DAARCOMM: +9.09% to N0.60

Top Losers

ARADEL: -9.99% to N625.40
DEAPCAP: -9.66% to N1.31
CHAMPION: -8.80% to N3.42

Market Outlook

The Nigerian Exchange displayed mixed sentiments throughout the week, with negative closes on four out of five trading days.

Despite the notable increases in trading volume and value, the market remains cautious, and a similar trend of mixed sentiment is expected to continue in the upcoming week. Investors are advised to remain vigilant as market fluctuations are likely to persist.

Lawrence Agbo, a tech journalist for over four years, excels in crafting SEO-driven content that boosts business success. He also serves as an AI tutor, sharing his knowledge to educate others. His work has been cited on Wikipedia and various online media platforms.

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