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.
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.
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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.
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.
