The Nigerian Bar Association (NBA) Section on Business had the honor of closing the trading session with the ceremonial ringing of the bell.
The NGX All Share Index, another key indicator of the stock market, ended the day 1.99% lower, settling at 60,715.04 basis points. Amidst the market's decline, some notable performers included Presco, which gained 1.69%, FCMB with a 4.26% increase, and Transcorp Hotels rising by 9.83%.
Conversely, MTN Nigeria declined by 1.80%, BUA Cement experienced a decrease of 9.86%, and Zenith Bank dropped by 3.83%, contributing to the overall negative sentiment. Consequently, the Year-to-Date (YTD) return declined to 18.47%, and the market capitalization decreased by N672.03 billion, closing at N33.06 trillion.
A closer look at the day's market activities revealed that trade turnover was lower compared to the previous session, with the value of transactions decreasing by 13.04%.
A total of 1.11 billion shares, valued at N12.21 billion, were traded in 12,194 deals. FCMB led the volume chart with 180.75 million units traded, while Zenith Bank topped the value chart with deals worth N1.80 billion.
The market breadth ended in a negative territory, with the number of losers outweighing the gainers. PZ led the list of declining stocks, accompanied by thirty-three (33) others, while Eterna stood out among nineteen (19) gainers.
During the bell ringing ceremony, Dr. Adeoye Adefulu, the Chairman of the NBA Section on Business, expressed pride in partnering with the NGX to attract investors to the market.
He emphasized their commitment to promoting good corporate governance and working with regulatory bodies like the Securities and Exchange Commission. Dr. Adefulu encouraged the government to implement investor-friendly policies that would enhance market participation both locally and internationally.
