Nigerian Stock Exchange Faces a Minor Setback with N5 Billion Dip

The Nigerian stock exchange witnessed a minor setback in its otherwise positive trend as the total value of listed stocks dropped by N5 billion, closing at N35.795 trillion.

This dip is in contrast to the previous closing figure of N35.845 trillion.

The All-Share Index (ASI) also experienced a slight drop of 90.99 points, concluding at 65,401.82 points, a 0.14% decrease from the previous day’s closing mark of 65,492.81 points.

Similarly, the Year-to-Date (YtD) return for the stock market saw a moderate downturn, resting at 27.61%, down from 27.79%.

Despite these slight setbacks, the market exhibited resilience with several stocks performing impressively.

OMATEK, DANGSUGAR, NASCON, CWG, and TRANSCORP gained 10% each, showcasing their strength while FTNCOCOA suffered the biggest loss, dropping 9.95% to end at N1.81 per share.

TRANSCORP distinguished itself with a trading volume of 144.49 million shares, while GTCO emerged as the top stock with the highest trading value of N1.54 billion.

Investor activity surged, with the number of deals reaching 6,968, up from the previous figure of 6,237, indicating a positive trend in market activity.

Among the top gainers, OMATEK, DANGSUGAR, NASCON, CWG, and TRANSCORP increased by 10% in their share prices, closing at N0.33, N44.0, N40.70, N4.95, and N5.28 per share, respectively.

On the other hand, FTNCOCOA, REDSTAREX, and LEARNAFRICA were among the top losers of the day, witnessing significant drops in their stock values by 9.95%, 9.93%, and 9.88%, respectively.

The exchange also witnessed an increase in the worth of shares traded, reaching N12.90 billion, a 2.19% rise from the previous value of N4.05 billion.

The number of shares traded also significantly increased by 67.4%, totaling 583.09 million shares, a notable contrast to the previous session’s lower trading volume of 348.32 million shares.