Bearish Sentiment Prevails as Nigerian Exchange Closes Lower with NCR Leading Gainers
The Nigerian Exchange (NGX) witnessed a bearish trend at the close of trading on Thursday, with the All-share Index (ASI) declining by 0.05% to settle at 55,794.51 points. Market Capitalization also dropped by N15 billion, ending the day at N30.394 trillion, while Year-to-Date (YTD) returns settled at 8.13%.
Despite gaining 4,198.85 basis points since the start of the year, the market breadth closed negative, with NCR leading the gainers and CONOIL topping the losers chart.
A total of 276 million shares were traded in 3,467 deals worth N8.59 billion. The top three stocks by volume were TRANSCORP, BUACEMENT, and UBA, while the top three by value were BUACEMENT, ZENITHBANK, and TRANSCORP.
NCR emerged as the top gainer, with a 9.89% increase to close at N2.89. Other top gainers were NGXGROUP, ARDOVA, MANSARD, and RTBRISCOE. On the other hand, CONOIL, CAVERTON, CHAMPION, HONYFLOUR, and CHAMS topped the losers' chart.
The NGX closed with a negative sentiment, as bears dominated the market, driving down the broad market.
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