Market Value of All Stocks Hits N106trn as GTCO Lists Shares
The market value of all listed stocks climbed to N106.2 trillion on the back of additional shares listed by GTCO Plc, while the key performance index slipped.
The Nigerian Exchange (NGX) All-share index (ASI) dropped 9 basis points week on week, reflecting weak buying sentiment across tickers despite earnings release.
The market index fell to 165,366.63 points. However, market capitalization expanded by N191.4 billion to N106.2 trillion following the additional listing of 125,000,000 GTCO shares at N80.00 per share.
The week’s performance was predominantly driven by sell pressures in MTNN (-1.38% WoW), FIRSTHOLDCO (-8.16% WoW), and FCMB (-5.13% WoW). Accordingly, the market’s year-to-date return dropped to 6.27%.
On Friday, bearish sentiments remained dominant as the benchmark index declined by 0.10% following sustained sell pressure in FIRSTHOLDCO (-5.26%) and FCMB (-4.31%).
However, market breadth proved resilient at 1.10x as the number of gainers (33) in the day’s session marginally outstripped the losers (30).
The newly listed agro-allied company — ZICHIS (+9.97%) emerged as the best performer in today’s session, while LEARNAFRICA (-10.00%) led the laggards.
Elsewhere, activity metrics softened, as total volume and value shrank by 2.4% and 3.6%, respectively. Precisely, a total of 674.9 million units worth N14.8 billion traded in the market.
VERITASKAP topped the volume chart with 80.5 million units traded (11.9% of total volume traded), while ARADEL dominated the value log with trades worth N2.3 billion (15.6% of total value traded).
Sectoral performance was mixed. The Insurance (+1.70%) index was a standout performer following strong demand in MANSARD (+9.51%).
Meanwhile, the Consumer Goods (+0.10%), Oil & Gas (+0.02%), and Commodity (+0.01%) indices posted meagre gains on the back of buying interest in NB (+1.03%), OANDO (+0.25%), and ARADEL (+0.03%), respectively.
On the flip side, the Banking (-0.78%) index was dragged by sell-offs in FIRSTHOLDCO (-5.26%), while the Industrial Goods index was unchanged. CBN OMO Bills Auction Attracts N5.9 trillion in Subscription
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