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NGX suffers N27 billion loss as investors remain cautious ahead of Supreme Court ruling



Nigerian stocks took a dip by the close of trading on Wednesday, with investors holding their breath in anticipation of the verdict from the Presidential Election Petitions Tribunal (PEPT). This crucial judgment will ultimately decide whether President Tinubu continues to hold office or not. According to ThePressNG, the eagerly awaited decision is expected to be delivered today.

How equities reacted

The All-Share Index (ASI) traded 0.07% lower to close at 68,286.28 index points as against 68,334.68 index points recorded in the previous day’s trading session.

Likewise, the market capitalization of equities saw a loss of N27 billion to close at N37.373 trillion, 0.07% lower than the N37,400 trillion recorded in the previous trading session.

Market Indices

Below are the market indices for today’s trading session:

NGX ASI: 68,286.28 points

% Day Change: -0.07%

% YTD: +33.24%

Market Cap: N37.373 trillion

Volume Traded: 378.65 million

Value: N5.48 billion

Deals: 7671

How Stocks Performed

Market breadth closed negative as GUINEAINS (10.00%) led gainers, VITAFOAM (-10.00%) led losers while OANDO was the most traded equity – by volume – at the end of today’s session.

Top Gainers and Top Losers

GUINEAINS, BETA GLASS, and CALVERTON led the top gainer’s chart as they all gained +10.00%, +9.91%, and +9.84% respectively.

Meanwhile, VITAFOAM, VERITASKAP and LINKASSURE led the top losers’ chart as they lost –10.00%, -7.69%, and –5.56% respectively.

Top Traded Stocks

  • There was lower trading activity in terms of volume as 378.65 million units of shares were traded today compared to the 557.85 million traded from the previous day’s session.
  • OANDO led the chart in terms of volume as 83.53 million units were traded. UBA (35.63 million) and TRANSCORP (26.66 million) rounded up the top 3 traded stocks for today.
  • In terms of value traded, OANDO (N609.38 million) led the chart followed by UBA (N533.75 million) and ACCESS HOLDINGS (N321.08 million) to round up the top three.

SWOOTs Watch

  • Shares of stocks worth over one trillion (shoot) saw mixed results as GTCO (-1.77%) and ZENITH BANK (-0.14%) recorded negative trading sessions as DANGOTE CEMENT (0.05%) closed positive.

FUGAZ Update

Shares of tier 1 banks saw mixed trading sessions as GTCO (-1.77%), UBA (-0.33%), ACCESS HOLDINGS (-0.29%), ZENITH BANK (-0.14%) all recorded losses while FBN HOLDINGS (0.84%) gained.