The domestic bourse, on Wednesday, August 28, 2024, halted its three consecutive sessions of gain, as the Nigerian stock market capitalisation shed N176 billion or 0.32 per cent.

The Nigerian Exchange Limited (NGX) market capitalisation which opened at N55.437 trillion, closed at N55.261 trillion.

The All-Share Index also lost 0.32 per cent or 307 points to close at 96,203.65, against 96,510.13 recorded on Tuesday, August 27.

Consequently, the Year-To-Date (YTD) return decreased by 28.66 per cent.

Selloffs in MTN Nigeria, alongside FBN Holdings, Access Corporation, and Wema Bank, among other declined equities, were the primary drivers of the market’s weak performance.

However, market breadth closed positive with 35 gainers and 14 losers on the floor of the Exchange.

Industrial and Medical Gases led the gainers table by 10 per cent to close at N26.40, and Chams followed with 9.95 per cent to close at N2.32 per share.

Investors gain N271bn at stock market

Oando gained 9.94 per cent to close at N57.85, Livestock Feed Plc rose by 9.91 per cent to close at N2.24, and Eterna Plc advanced by 9.84 per cent to close at N27.90 per share.

Neimeth International Pharmaceuticals led the losers’ table by 9.09 per cent to close at N2, while Tantalizers trailed by 8.64 per cent to close at 74k per share.

MTN Nigeria lost 7.91 per cent to close at N184, Thomas Wyatt dropped 7.06 per cent to close at N1.58, while Jaiz Bank shed 6.25 per cent to close at N2.25 per share.

Analysis of the stock market activities showed trade turnover settled lower relative to the previous session, with the value of transactions lowering by 19.59 per cent.

A total of 446.61 million shares valued at N4.53 billion were exchanged in 10,148 deals, compared to 443.16 million shares valued at N5.64 billion traded in 8,493 deals posted previously.

On the activity chart, Universal led in volume with 52.60 million shares valued at N18.78 million, while Japaul Gold followed with 51.80 million shares worth N145.32 million to lead the chart in value.

Prestige sold 35.82 million shares valued at N19.53 million, Tantalizers traded 35.14 million shares worth N28.22 million, and Chams transacted 28.73 million shares worth N65.52 million.

The Star