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NGX: Market Sentiments Waver As Trading Slows Down

February 8, 2024
by
NGX: Investors Gain N313bn As ASI Rebound By 0.70%

Investors on the Nigerian Exchange witnessed subdued trading activities on Wednesday, resulting in a marginal depreciation in market capitalization to N55.87tn.

Despite a slight decline, the All-Share Index closed at 102,106.31 points, reflecting a 0.002 per cent decrease, causing investors to lose N1bn.

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Trading volume dropped to 341.92 million units from 494.19 million units the previous day, with the value of traded units falling by 15.68 per cent to N6.41bn.

Moreover, the number of trades decreased by 17.82 per cent to 9,665 deals, marking a continued decline from the previous trading sessions.

Market breadth, indicative of investors’ sentiments, remained negative with 19 gainers and 36 losers. Meyer Plc led the gainers, appreciating by 10 per cent, followed by Tripple G and Juli Plc with gains of 9.84 per cent and 9.09 per cent, respectively.

On the flip side, AIICO Plc recorded the highest depreciation, with shares dropping by 9.92 per cent, followed by Cadbury Nigeria Plc and Guinea Insurance Plc, which saw declines of 9.50 per cent and 8.93 per cent, respectively.

Transcorp Plc, Guaranty Trust Holding Company Plc, and FBN Holdings emerged as the volume and value drivers of the day’s market trend.

Despite the overall sluggish performance, individual stock movements continue to reflect both positive and negative sentiment, underscoring the ongoing volatility in the Nigerian equities market.

Emmanuel Ochayi
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Emmanuel Ochayi

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