Investors’ profit-taking in NGX group, Nigerian Breweries, 16 others depreciate stock market by 0.02%

The stock market of the Nigerian Exchange Limited (NGX) on Wednesday returned back to decline as the All-Share Index shed 0.02 per cent.

In summary, the All-Share Index (ASI) declined by 11.21 absolute points, representing a decrease of 0.02 per cent to close at 46,766.16 points. Similarly, the overall market capitalization value lost N6 billion to close at N25.212 trillion.

The market loss was driven by price depreciation in large and medium capitalised stocks amongst which are; Nigerian Exchange Group (NGXGroup), Nigerian Breweries, NASCON Allied Industries, Guaranty Trust Holding Company (GTCO) and NPF Microfinance Bank.

Market breadth closed negative, as 18 stocks declined relative to 16 gainers. Regency Alliance Insurance recorded the highest price gain of 10 per cent to close at 33 kobo per share. Livestock Feeds followed with a gain of 9.59 per cent to close at N1.60, while Multiverse Mining and Exploration gained 9.52 per cent to close at 23 kobo, per share.

Meyer Plc appreciated by 9.30 per cent to close at 94 kobo, while Linkage Assurance gained 8.51 per cent to close at 51 kobo, per share.

On the other hand, NPF Microfinance Bank led the losers’ chart by 9.78 per cent to close at N2.03, while R.T. Briscoe Nigeria followed with a decline of 8.93 per cent to close at 51 kobo,  per share.

Prestige Assurance shed 8.16 per cent to close at 45 kobo, while Niger Insurance and Chams depreciated by 4.76 per cent each to close at 20 kobo each, per share.

Meanwhile, the total volume of trades rose by 1.6 per cent to 261.592 million units, valued at N2.434 billion, and exchanged in 4,668 deals.

Transactions in the shares of Fidelity Bank topped the activity chart with 81.749 million shares valued at N281.150 million. Transnational Corporation of Nigeria (Transcorp) followed with 30.722 million shares worth N30.107 million, while GTCO traded 15.490 million shares valued at N345.605 million.

Access Holdings traded 15.258 million shares valued at N148.834 million, while Zenith Bank transacted 10.002 million shares worth N227.332 million.