NGX Delists 30 Companies Due to Corporate Governance Issues.The stock market capitalization decreased by N171 billion, or 0.31 percent, closing at N55.545 trillion, down from the opening value of N55.716 trillion.
The All-Share Index also dropped by 0.31 percent, losing 302 points to close at 97,830.65, compared to 98,132.15 recorded on Monday.
As a result, the Year-To-Date (YTD) return declined to 30.84 percent.
The market’s downturn was mainly due to selling pressures in stocks such as Zenith Bank, Guaranty Trust Holding Company (GTCO), Access Corporation, FBN Holdings, Dangote Sugar, and Transnational Corporation, among others.
Market breadth closed negative, with 31 losers and 19 gainers on the Exchange floor.
United Capital led the list of 30 declining equities, dropping by 9.92 percent to close at N34.05 per share. In contrast, ABC Transport led 18 advancing equities, rising by 10 percent to close at 77k per share.
In terms of market activities, trade turnover decreased relative to the previous session, with transaction values down by 8.11 percent.
A total of 399.39 million shares valued at N8 billion were traded in 10,447 deals, compared to 379.13 million shares valued at N8.71 billion traded in 10,096 deals in the previous session.
Meanwhile, Zenith Bank led the volume and value charts with 44.24 million shares valued at N1.51 billion.
