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, NITTY Falls for All Tenor Buckets on Liquidity Boost…
The domestic stock market index moderated by 0.13% to settle at 54,299.76 points following profit-taking activity.
Hence, the year-to-date gain of the NGX ASI fell to 5.95% even as the Exchange printed more losers (27) than gainers (20) at the close of the trading session.
Specifically, we saw profit-taking on FCMB, UACN, GEREGU, and DANGCEM shares as their respective prices fell by 7.82%, 6.12%, 5.71%, and 0.71%.
Notably, the NGX Oil/Gas sub-sector index rose by 0.54%, due to strong corporate earnings from CONOIL (+10.00%) and MRS (+9.82%), but was limited by ARDOVA’s (-4.25%) potential delisting.
Other sub-sector gauges tracked closed in red: the NGX Banking, NGX Insurance, NGX Consumer Goods, and NGX Industrial indices declined by 0.61%, 0.80%, 0.02%, and 0.31%, respectively.
In the broader market, the NGX Premium index rose marginally by 1 bps, however, the NGX-30 index fell by 0.01%.
Meanwhile, trading activity increased, with total deals, volume, and value rising by 0.48%, 4.38%, and 58.84%, respectively, to 4,380 trades, 200.04 million units, and N7.62 billion.
In terms of volume, FCMB was the most active stock, with 27.98 million shares worth N130.02 million changing hands in 132 deals.
