By Niyi Jacobs
The Nigerian stock market experienced a significant downturn on Thursday, with the All-Share Index (ASI) shedding 23 basis points to close at 98,003.75 points. This decline resulted in investors losing N130.54bn, with the market capitalization dropping to N56.32trn. The year-to-date return closed at 31.07%.
The market breadth index (MBI) was largely bearish, with 26 losers against 25 gainers and 68 unchanged equities. FBNH, OANDO, FLOURMILL, NASCON, WAPCO, DANGSUGAR, UCAP, and GTCO were among the top losers. On the other hand, ABCTRANS topped the gainers’ list, while HONYFLOUR topped the losers’ list.
The total volume traded advanced by 30.94% to close at 473.09m, valued at N11.36bn and traded in 9,848 deals. JAPAULGOLD was the most traded stock by volume, with 106.66m units traded, while UACN was the most traded stock by value, worth N1.19bn.
The Gote index was down 0.06% to close at 279.58, the Toni index was up 0.78% to close at 1,116.71 points, while the Samad Index closed flat at 341.83 points.
In the NASD OTC Exchange, the NASD Securities Index (NSI) closed bullish, with the NSI up 1.45% to close at 2,227.60 points. The total volume traded declined by 31.48% to close at 1.74m units valued at N411.50m, traded in 101 deals.
Globally, the indices performed positively, with Japan’s Nikkei 225 at the top of the chart. The African market also showed favorable prices.
In the commodities market, Paddy rice increased 6.24% to close at N880.58, while Soybeans nosedived 4.37% to close at N815.00. Eko Gold price at the Lagos Commodities and Futures Exchange (LCFE) closed flat today at N88,900.00 per gram. Gold and Silver traded up 0.66% and 2.15%, respectively, while Brent and WTI crude futures also traded up 1.67% and 2.06% following the US rate cuts.
