MON AUG 19 2024-theGBJournal| The NGX All-Share Index closed 1.4% lower on Monday at 95,779.79 points, extending negative momentum at the start of the new trading week, the lowest point since 22nd January.
Industrial heavyweight, DANGCEM (-10.00%) alongside Tier-1 banking names, GTCO (-0.43%), FBNH (-0.95%) encountered gains in BUACEMENT (+3.73%), TRANSCOHOT (+6.25%) and UBA (+1.11%).
Consequently, the year-to-date (YTD) return fell to 28.10%, while the market capitalization shed N748.66 billion to close at N54.38 trillion.
The total volume of trades increased significantly by 916.2% to 3.55 billion units, valued at N7.65 billion, and exchanged in 9,291 deals. GTCO was the most traded stock by volume and value at 59.25 million units and N2.73 billion, respectively.
Analysing by sectors, the Industrial Goods (-5.0%), Insurance (-0.7%) and Consumer Goods (-0.7%) indices recorded losses, while the Banking (+0.2%) and Oil & Gas (+0.1%) indices posted gains.
As measured by market breadth, market sentiment was positive (1.7x), as 31 tickers gained, relative to 18 losers. CUTIX (+10.0%) and RTBRISCOE (+10.0%) topped the gainers’ list, while DANGCEM (-10.0%) and NSLTECH (-9.8%) recorded the highest losses of the day.
Meanwhile, the naira closed flat at N1,579.22/USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
As at Friday, year-to-date depreciation against the greenback fell to 42.58% (42.38% the previous week).
The parallel market rate appreciated to N1,600.00/US$1 from N1,605.00/US$1.
X-@theGBJournal|Facebook-the Government and Business Journal|email:gbj@govbusinessjournal.com|govandbusinessj@gmail.com
