LAGOS: The Nigerian Exchange (NGX) closed lower at the midweek session, as investors engaged in profit-taking activities that wiped off about N121 billion from the market’s capitalization.
At the close of trading, the All-Share Index (ASI) shed 191.09 points or 0.13 per cent to settle at 145,864.80 points. Similarly, the overall market capitalization declined to N92.284 trillion, reflecting the day’s bearish sentiment.
The downturn was largely driven by sell-offs in blue-chip and mid-tier stocks such as Lafarge Africa, Nigerian Breweries, Northern Nigeria Flour Mills (NNFM), Berger Paints, and Zenith Bank.
However, despite the headline loss, market breadth turned positive with 53 gainers against 21 losers, as bargain hunters continued to take positions in undervalued stocks.
Top Gainers
FTN Cocoa Processors, Learn Africa, Prestige Assurance, R.T. Briscoe, Tripple Gee & Company, and Caverton Offshore Support Group all appreciated by 10 per cent each, closing at N6.93, N7.70, N2.42, N3.74, N5.17, and N7.92 per share, respectively.
AXA Mansard Insurance followed with a 9.99 per cent gain to close at N19.48, while Ellah Lakes and Consolidated Hallmark Holdings rose by 9.96 per cent each, closing at N17.66 and N5.63 per share.
Top Losers
On the flip side, Thomas Wyatt Nigeria led the losers’ chart, dropping by 10 per cent to close at N3.42 per share. UPDC fell 7.94 per cent to N8.00, while Legend Internet shed 6.35 per cent to N5.60 per share.
Berger Paints declined 6.16 per cent to N32.00, and Champion Breweries lost 5.75 per cent to close at N16.38 per share.Trading activity improved as the total volume of shares exchanged rose by 5.06 per cent to 1.342 billion units, worth N20.215 billion, in 30,749 deals.
Universal Insurance led the activity chart with 193.435 million shares valued at N282.415 million. It was followed by Japaul Gold and Ventures, which traded 123.163 million shares worth N389.976 million, while Veritas Kapital Assurance transacted 93.216 million shares valued at N260.054 million.
Other actively traded stocks included Access Holdings with 84.985 million shares worth N2.347 billion, and Sterling Financial Holdings Company, which posted 68.202 million shares valued at N552.619 million.
