In a trading session filled with twists and turns, the Nigerian Exchange (NGX) closed on a negative note, leaving investors and market participants with mixed sentiments. The All-Share Index (ASI) experienced a slight dip, trading 0.02% lower and settling at 55,806.71 index points. This decline was in contrast to the previous day's trading session when the ASI stood at 55,820.50 index points, showcasing the unpredictable nature of the market.
The market capitalization of equities also suffered a marginal loss, depreciating by approximately N7 billion to close at N30.387 trillion. This represents a 0.02% decline compared to the previous trading session's value of N30.394 trillion. The market breadth ended in the negative territory, with JOHNHOLT Plc taking the lead among the losers, experiencing a significant downturn of -9.95%. However, OMATEK stood out as one of the gainers, defying market expectations with a remarkable surge of 10.00%.
Throughout the session, market indices displayed an air of perplexity, reflecting the turbulent trading environment. The NGX ASI witnessed a meandering path, oscillating between gains and losses, eventually settling at 55,806.71 points. This figure was marginally lower than the previous ASI of 55,820.50 points, accentuating the intricate nature of the day's trading activity. The day's percentage change was -0.02%, further underscoring the unpredictability of market movements.
Market Volatility and Mixed Performance of Stocks
On a year-to-date basis, the NGX continues to showcase resilience and positive growth, with a noteworthy increase of 8.89%. While the negative close for the day might have dampened spirits momentarily, the overall upward trend throughout the year remains a beacon of hope for investors.
In terms of volume, a total of 369.78 million shares were traded during the session, with a corresponding value of N19.84 billion. These figures depict the burstiness of the market, with sudden bursts of activity and fluctuating values that kept traders on their toes. The number of deals executed during the session reached 7,221, reflecting the frenetic pace of trading.
Among the top gainers of the day, OMATEK stood out as it defied market expectations, recording a remarkable gain of 10.00% and closing at N0.22 per share. NEM also showcased its resilience, surging by the same percentage to close at N5.50 per share. CONOIL and MRS followed suit, posting gains of 9.94% each, closing at N76.85 and N54.20 per share, respectively. ETERNA also contributed to the burstiness, with a gain of 9.73% and closing at N10.15 per share.
However, the market was not without its share of losers. JOHNHOLT experienced a significant decline of -9.95%, closing at N1.72 per share. COURTVILLE and CHAMS also joined the losers' club, recording losses of -9.80% and -9.76%, respectively. WAPIC and ACADEMY also experienced downturns of -8.70% and -7.89%, respectively.
High Volume Trades and Surprising Market Activity
When analyzing the trading session based on volume, GEREGU emerged as the most traded equity, with a staggering volume of 52,491,100 shares. It was closely followed by NPFMCRFBK, with a volume of 50,023,284 shares. ACCESSCORP rounded out the top three, recording a volume of 46,234,576 shares.
In terms of value, GEREGU once again took the lead, generating a total value of N16,365,305,013. ZENITHBANK secured the second spot with a value of N800,619,160, while ACCESSCORP followed closely with a value of N573,551,536.
Positive Year-to-Date Growth Amidst Turbulent Market Conditions
The NGX witnessed a trading session filled with perplexity and burstiness, as the market closed in negative territory. The fluctuating indices, mixed performance of stocks, and unexpected shifts in trading volumes and values kept participants on edge. Despite the day's downturn, the positive year-to-date growth provides a glimmer of hope for investors, while the volatile nature of the market serves as a reminder of its ever-changing landscape.