September 5, 2024, saw sale pressure on the All-Share index, which caused it to decrease by 327.28 points, ending trading on a down note.
With a closure of 96,210.20 points, the index showed a -0.34% decrease from the day’s end of 96,537.48 points, suggesting a bearish attitude on the index.
The market capitalization also decreased, down by 0.32% to 55.27 trillion from the reported 55.45 trillion the day before.
The underperformance of large-cap stocks, such as OANDO, which lost 9.65% of its share price after trading lower the day before, was a major factor contributing to the index’s negative price action.
With a noteworthy 10% increase in share price, BERGER led the list of advancing stocks and outperformed other firms on the advancers table.
As the day came to an end, RTBRSCOE was the top stock on the list of dropping equities, down 10%. OANDO saw a decline of -9.57% and FTNCOCCOA of -9.80%, respectively.
The session ended with 9,897 trades, down from the previous session’s 12,039 transactions.
Market Indices
Current ASI: 96,210.20 points
Previous ASI: 96,537.48 points
Day Change: -0.34%
Year-to-Date (YTD) Change: +28.67%
Market Capitalization: N55.45 trillion
Volume Traded: 388.62 million units
Number of Deals: 9,897
NGX Top 5 Gainers
BERGER: Gained 10%, closing at N17.05
MEYER: Gained 10%, closing at N5.83
MCNICHOLS: Gained 10%, closing at N1.43
TANTALIZER: Gained 7.81%, closing at N0.69
DAARCOMM: Gained 7.58%, closing at N0.71
NGX Top 5 Losers
RTBRSCOE: Dropped 10%, closing at N2.34
FTNCOCOA: Dropped 9.80%, closing at N1.38
OANDO: Dropped 9.65%, closing at N74.00
DEAPCAP: Dropped 9.57%, closing at N1.04
GUINEAINS: Dropped 9.09%, closing at N0.50
Most Traded Stocks
The market’s capitalization shrank as it finished the trading day with a value loss of 0.32%, totaling 55.27 trillion.
With 56.5 million shares traded, Zenith Bank was the most traded stock. OANDO was next, with 42.9 million shares, in close second place. In addition, GTCO contributed 28.4 million shares, FTNCOCOA contributed 25.4 million shares, and UBA contributed 21.6 million shares.
Regarding value, the market had a 17.45 rise in trading value, amounting to N9.57 billion, as opposed to N9.7 billion in the prior session, indicating a rise of N1.39 billion.
In terms of trade value, OANDO again led with N3.1 billion in transactions, ZENITH BANK with N2.0 billion, GTCO with N1.2 million, and UBA with N503.7 million.
Updates on SWOOT and FUGAZ
The 9.65% drop in OANDO’s share price, which followed its previous day’s decline, and a few small declines in certain large-cap banking equities contributed to the negative closing day trade for the Nigerian stock market.
Some businesses showed resilience by keeping their stock prices steady despite the market’s volatility: AIRTELAFRICA, BUACEMENT, BUAFOODS, DANGCEMENT, GEREGU, MTNN, SEPLAT, and TRANSPOWER.
In the banking industry, FBN Holding stood out as the only company to stay unaffected by the downward trend, while Zenith Bank, UBA, Access Holdings, and GTCO witnessed drops of 1.07%, 1.47%, 0.79%, and 0.43%, respectively.
