WED SEPT 11 2024-theGBJournal Nigerian equities traded lower on Wednesday, undermined by profit-taking in GTCO (-0.11%), OANDO (-8.38%) and TRANSCORP (-1.78%).
The NGX ASI, the benchmark index, consequently dipped by 0.1% to close at 96,715.04 points. Market capitalization also moderated to N55.58 trillion. The Month-to-Date and Year-to-Date returns equally moderated to +0.1% and +29.3%, respectively.
The total volume traded increased by 47.7% to 600.04 million units, valued at N8.81 billion, and exchanged in 9,546 deals.
JAIZBANK was the most traded stock by volume at 237.24 million units, while OANDO was the most traded stock by value at N2.44 billion.
Sectoral performance was mixed as the Oil & Gas (+1.7%), Banking (+0.6%), and Consumer Goods (+0.3%) indices advanced, while the Insurance (-1.4%) index declined. The Industrial Goods index closed flat.
As measured by market breadth, market sentiment was positive (1.2x), as 31 tickers gained relative to 25 losers. CAVERTON (+10.0%) and REDSTAREX (+9.7%) topped the gainers’ list, while CWG (-10.0%) and NNFM (-9.9%) recorded the most significant losses of the day.
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