Trading opened negatively on the Nigerian Exchange Limited (NGX) on Monday, May 13, 2024, with the market capitalisation dropping by N297 billion.

The market capitalisation closed lower at N55.264 trillion compared with N55.561 trillion, a decrease of 0.53 per cent.

The All-Share index also dropped by 0.53 per cent or 525.02 points to close at 97,708.74, as against 98,233.76 recorded on Friday.

As a result, the Year-To-Date (YTD) return fell to 35.07 per cent.

Equities that dragged the market down included Seplat, United Bank for Africa (UBA), Access Corporation, PZ Cussons Nigeria, Transnational Corporation, Nigerian Breweries, and ETranzact, among others.

Meanwhile, the market breadth closed negative with 24 declined stocks outnumbering 19 advanced ones.

On the losers’ chart, Seplat led by N329.10 to close at N2,962.30, PZ trailed by N2.75 to close at N25 and ETranzact lost 60k to close at N5.60 per share.

Naira depreciates 0.3% against dollar at official market

Unity Bank declined by 15k to close at N1.68 and National Salt Company of Nigeria (NASCON) shed three Naira to close at N37 per share.

Conversely, Tantalizers and Initiates Plc led gainers’ table by 4k and 20k each to close at 50k and N2.50 per share.

Sterling Nigeria added 24k to close at N4.70, Ikeja Hotel gained 38k to close at N7.45 and UPL rose by 10k to close at N2.25 per share.

Analysis of the market activity showed that trade turnover settled 51.25 per cent higher than the previous session.

Investors traded a total of 439.10 million shares valued at N11.38 billion in 8,607, in contrast to 344.38 million shares valued at N7.52 billion in 8,497 deals posted previously.

Notore of the NGX industrial goods sector led the volume and value table with 74.43 million shares worth N4.65 billion and Access Corporation followed with 43.05 million shares valued at N749.94 million.

Universal Insurance sold 38.33 million shares valued at N13.95 million, UBA transacted 37.28 million shares worth N903.10 million, and Regency Alliance Insurance traded 31.99 million shares worth N10.28 million.

The Star