Emmanuel Ochayi
In an eventful trading day on the Nigerian Exchange (NGX), the latest entrant, Mecure Industries Plc, stole the spotlight by delivering an impressive performance, gaining 9.95% in value[ez-toc]. However, this glittering performance couldn’t shield the market from overall losses as the NGX All-Share Index dipped by 0.34% to 70,612.81 points.
The trading floor saw intense activity, with the market crossing the 71,000 point mark and reaching an intra-day high of 71,131.22 points. But, as the day drew to a close, the market ended in the red, with one of its largest stocks, BUACEMENT, witnessing a 7.41% decline.
Join our WhatsApp ChannelIn terms of figures, the equities market experienced a decline of N132 billion, resulting in a market capitalization of N38.793 trillion. The market witnessed 7,630 deals today, up from the previous trading session’s 6,308, but trading volume dipped to 474.386 million units from 556.703 million units last week. Trading value, on the other hand, appreciated to N7.75 billion from the previous session’s N5.56 billion.
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Stocks like ALEX and RTBRISCOE surged by 10%, Mecure rose by 9.95%, while MCNICHOLS and DEAPCAP saw gains of 9.84% and 9.68% respectively.
While JAPAULGOLD led the losses with a 9.09% drop, followed by BUACEMENT and VERITASKAP, which fell by 7.76% and 7.41% respectively, while PZ and OMATEK saw decreases of 5.00% and 4.69% in their stock values.
Among the top-traded stocks, FIDELITYBK (-1.64%) led in volume with 94.048 million units, followed by JAPAULGOLD (-9.09%) with 65.978 million units, and UBA (+0.48%) with 54.924 million units. In terms of value traded, MTNN (+2.56%) took the lead with N2.23 billion, followed by UBA (+0.48%) with N1.14 billion.
In the exclusive club of stocks worth over one trillion, only BUACEMENT (-7.76%) witnessed a price decline, while MTNN (+2.56%), GTCO (+0.84%), and ZENITHBANK (+1.36%) recorded price gains. AIRTELAFRI, BUAFOODS, SEPLAT, and DANGCEM maintained their prices.
Tier-1 banks also fared well, with only ACCESSCORP (-0.29%) experiencing a slight price drop. GTCO, ZENITHBANK, and UBA recorded price gains, while FBNH remained steady.
Despite the market’s overall decline, new entrant Mecure Industries Plc continues to shine, showcasing the potential for growth and innovation in the Nigerian equities market.
Emmanuel Ochayi is a journalist. He is a graduate of the University of Lagos, School of first choice and the nations pride. Emmanuel is keen on exploring writing angles in different areas, including Business, climate change, politics, Education, and others.
