By Oluyinka Onigbinde
The Nigerian Exchange (NGX) closed the last trading session of July on a bearish note as investors lost about ₦51 billion in market value following renewed profit-taking across selected stocks.
At the close of trading on Friday, the benchmark All-Share Index (ASI) declined by 78.58 basis points, or 0.03 per cent, to settle at
245,283.68 points, compared to the previous day’s close.
Similarly, the market capitalisation fell to ₦158.33 trillion, reflecting a loss of approximately ₦51 billion from the preceding session.
Despite the marginal decline in the key market indicators, trading activity remained robust as investors exchanged 692.89 million shares valued at ₦44.84 billion in 55,357 deals.
Market breadth closed in the negative, with 37 stocks recording losses against 36 gainers, while 73 equities remained unchanged.
On the gainers’ chart, Consolidated Hallmark Holdings Plc (CONHALLPLC), Eterna Plc and Regal Insurance Plc emerged as the top performers after each appreciated by the maximum daily limit of 10 per cent. CONHALLPLC closed at ₦8.36 per share, while Eterna and Regal Insurance also posted strong gains.
On the flip side, FTG Insurance Plc led the losers’ table after shedding 10 per cent to close at ₦2.34 per share, while CAP Plc followed closely with a 9.97 per cent decline.
In terms of trading volume, AVA Capital Plc (AVACAP) dominated the market with 91.12 million shares exchanged, making it the most actively traded stock for the day.
Seplat Energy Plc emerged as the most valuable stock traded during the session, accounting for the highest value of transactions.
The session brought a subdued end to July trading, with investors closely watching corporate earnings releases and broader macroeconomic developments expected to shape market sentiment in the coming weeks.
