Transactions ended on a bearish note for the second day at the Nigerian Exchange Limited (NGX), leading to a loss of over ₦‎393 billion.

MTN Nigeria, UPDC Plc, and 22 other stocks declined in share price value at the stock market.

NGX: Market Cap Up By ₦‎227bn As ASI Closes At 401.18bps

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On Tuesday, March 26, 2024, the stock market failed to rise above the losses of the previous trading day.

The Stock market lost ₦28 billion on the first trading day of the week and followed it up with another loss of approximately ₦‎104 billion.

Have You Read: NGX: Stock Market Declined By 0.04% As Investors Lost ₦‎239bn

Profit-taking in MTN Nigeria and 23 other stocks, led to the loss of ₦393 billion in the market.

The All-Share Index declined by 0.18%, to close at 103,933.86bps from the previous close of 104,129.10bps.

While an aggregate of 374,410,701 units of shares were traded in 8,689 deals valued at ₦‎11.29 billion

The market capitalisation of the NGX, declined by ₦‎104 billion to close the day’s trading at ₦‎58.776 trillion.

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Gainers And Losers

Abbey Mortgage Bank Plc led other gainers with 10% growth to close at ₦2.42 from its previous price of ₦2.20

Consolidated Hallmark Holding, Juli, and May & Baker Nigeria Plc amongst other gainers also grew their share prices by 9.92%, 9.80%, and 9.69% respectively.

UPDC Plc led other price decliners, as it shed 9.87% off its share price to close at ₦1.37, from its previous close of ₦1.52

Furthermore, United Capital, Sovereign Trust Insurance, and FTN Cocoa Processors Plc amongst other losers also shed their share prices by  8.75%, 8.33%, and 8.00% respectively.

Volume Drivers

Guaranty Trust Bank Holding Company (GTCO) Plc traded about 67.148 million units of its shares in 645 deals, valued at ₦3.269 billion.

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United Bank for Africa (UBA) Plc traded about 51.466 million units of its shares in 529 deals, valued at ₦1.368 billion

Also, Zenith Bank Plc traded about 42.439 million units of its shares in 531 deals, valued at ₦1.715 billion.

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