The Nigerian Exchange Ltd. (NGX) witnessed a decline in the value of transactions on Tuesday, following the Easter break, with market activities showing a decrease in trade turnover compared to the previous session.
According to analysis, a total of 545.49 million shares valued at N14.61 billion were exchanged in 12,747 deals, marking a 13.81% decrease from the 623.08 million shares valued at N16.95 billion traded on the previous trading day.
Leading the activity chart in volume and value was Guaranty Trust Holding Company (GTCO), with 84.65 million shares traded at a value of N4.48 billion. Access Corporation sold 68.89 million shares worth N1.73 billion, while United Bank of Africa (UBA) traded 65.49 million shares valued at N1.83 billion.
As a result of the decline in transactions, the market capitalization shed N25 billion or 0.04% to close at N59.095 trillion, with the All-Share Index dropping 0.04% or 44 points to settle at 104,518.14.
The Year-To-Date (YTD) return slipped to 39.78%, with losses in the shares of FBN Holdings, Stanbic IBTC, Transnational Corporation, Julius Berger, among other top losers contributing to the market performance downturn.
Despite the overall decline, market breadth closed positive with 23 gainers and 17 losers on the floor of the Exchange. Notable gainers included May and Baker Nigeria Plc, Ikeja Hotel, Chams, Unity Bank, and AIICO Insurance, among others.
Conversely, UAC of Nigeria Plc led the losers’ table, followed by Julius Berger, ABC Transport, Universal Insurance, and UPDC Real Estate Investment Trust, reflecting the mixed performance across sectors.
