NGX Further Falls As ASI Dips 34.06 To 49.642.69 Points

Trading at the Nigerian Exchange Limited (NGX),fell on Tuesday as All-Share Index (ASI), dipped to close at 49.642.69 points.

Consequently, the All-Share Index (ASI) dipped 34.06 basis points or 0.07 per cent to close at 49.642.69 index points as against 49.676.75 recorded the previous trading session.

Equity trading on the floor of the NGX also witnessed a drop in share prices as bears sustained their grip on the local bourse following low market sentiment.

The market capitalisation of equities depreciated by N19 billion from N26.794 trillion the previous day to N26.775 trillion as market sentiment remained in the negative territory.

Meanwhile, a turnover of 125.94 million shares exchanged in 4,145 deals was recorded in the day’s trading.

The market breadth closed flat with 13 losers and 13 gainers apiece.

The highest price gainer was eTranzact as its value rose by 9.65 per cent to N2.50, Sovereign Trust Insurance improved by 7.69 per cent to 28 Kobo, Vitafoam appreciated by 7.27 per cent to N23.60, Japaul advanced by 6.45 per cent to 33 Kobo, while Consolidated Hallmark Insurance gained 4.84 per cent to sell for 65 Kobo.

Courteville recorded the highest fall, 7.69 per cent, to close at 48 Kobo, with FCMB losing 4.06 per cent to trade at N3.07. UPDC depreciated by 3.77 per cent to N1.02, NAHCO dropped 3.72 per cent to finish at N5.70, while Cadbury Nigeria retreated by 2.99 per cent to N13.00.

The insurance sub-sector was the most active (measured by turnover volume); with 41.55 million shares exchanged by investors in 291deals.

Volume in the sub-sector was largely driven by activities in the shares of Mutual Benefit Insurance Plc and Consolidated Hallmark Insurance.

Also, the premium sub-sector was boosted by the activities in the shares of Access Holdings Plc and FBNH Plc followed by a turnover of 38.67 million shares in 1,307 deals.


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