In a turn of events on the Nigerian Stock Exchange, investors witnessed a decline in market capitalization to the tune of N183 billion due to profit-taking activities in prominent stocks such as Guinness Nigeria and PZ Cussons Nigeria Plc, among others.
The Nigerian Exchange Limited All-Share Index (NGX ASI) experienced a dip of 334.62 points or 0.33 per cent, closing at 101,707.70 basis points. Consequently, market capitalization saw a decrease to N55.653 trillion.
The NGX ASI’s month-to-date and year-to-date performance also experienced moderation, standing at +0.6 per cent and +36 per cent, respectively.
Across sectors, the NGX Banking Index saw a decline of 1.9 per cent, the NGX Consumer Goods Index depreciated by 0.2 per cent, and the NGX Industrial Goods slipped by 0.1 per cent. However, the NGX Insurance Index recorded a gain of 1.1 per cent, and the NGX Oil & Gas index appreciated by 0.1 per cent.
Market breadth was negative, with 24 stocks gaining relative to 29 losers.
Notable gainers included Honeywell Flour Mills, which saw a rise of 9.92 per cent, Juli with a gain of 9.90 per cent, and Cornerstone Insurance, rising by 9.88 per cent. On the other hand, PZ Cussons Nigeria led the losers’ chart with a decline of 9.87 per cent, followed by Morison Industries with a decrease of 9.84 per cent.
Trading activity witnessed an uptick, with the total volume traded rising by 8.56 per cent to 263.192 million units, valued at N4.301 billion. Veritas Kapital Assurance led the activity, with 49.075 million shares worth N39.009 million traded.
Overall, the market’s performance reflects a mixed sentiment, with profit-taking activities impacting some key stocks while others experienced marginal gains.
