NGX Drops Further By 0.27% On Month-End Rebalancing


Negative trading persisted on the Nigerian Exchange (NGX) Ltd on Tuesday with key market indices dropping further by 0.27 per cent due to end of month rebalancing.

Consequently, the NGX All-Share Index closed the last trading day in August negative, dropping 108.06 points or 0.27 per cent to 39,218.61 from 39, 326.67 on Monday.

Accordingly, month-to-date growth stood at 1.7 per cent and year-to-date loss increased to 2.6 per cent, respectively.

Also, the market capitalisation which opened at N20.489 trillion shed N55 billion or 0.27 per cent to close at N20.434 trillion.

The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are; Nigerian Breweries, Zenith Bank, Livestock Feeds, BOC Gases and Guaranty Trust Bank Holdings Company.

The market breadth closed negative with 16 gainers against 27 laggards.

Nigerian Breweries led the losers’ chart in percentage terms with 9.93 per cent to close at N49.45 per share.

Livestock Feeds followed with 9.83 per cent to close at N2.11, while Lasaco Assurance was down by 9.74 per cent to close at N1.39 per share.

UACN Property Development Company depreciated by 7.46 per cent to close at N1.86, while Neimeth International Pharmaceuticals lost 7.04 per cent to close at N1.85 per share.

Conversely, Transcorp Hotels drove the gainers’ chart in percentage terms, gaining 10 per cent to close at N5.17 per share.

Honeywell Flour Mill gained 9.74 per cent to close at N4.28, while Morison Industries appreciated by 9.73 per cent to close at N2.03 per share.

FTN Cocoa processors went up by 9.62 per cent to close at 57k, while Skyway Aviation Handling Company appreciated by 9.46 per cent to close at N4.05 per share.

However, the volume of shares traded appreciated by 41.41 per cent to 425.66 million shares worth N1.97 billion traded in 4,553 deals.

This was higher than 301.01 million shares valued at N1.54 billion achieved in 4,715 deals on Monday.

Transcorp topped the activity chart with 111.07 million shares worth N99.98 million.

Chams followed with 57.55 million shares valued at N12.11 million, while Honeywell Flour Mills traded 31.63 million shares worth N130.76 million.

Champion Breweries sold 23.75 million shares valued at N48.63 million, while Fidelity Bank accounted for 20.65 million shares worth N48.49 million. (NAN)