Weekly Report: Selloffs in blue-chips decline NGX market indices by 0.08%

During the week, selloffs in Seplat, Fidelity Bank, and Transnational Corporation, among 34 other declined equities, drove the Nigerian Exchange Ltd. broader index down by 0.08 per cent week-on-week. Notably, the NGX All-Share Index and market Capitalisation depreciated by 0.08 per cent to close the week at 99,221.14 and N56.

Transnational Corporation lost 11.21 per cent to close at N10.30, Sunu Assurances shed 10.85 per cent to close at N1.15, and Prestige Assurance dropped 10.71 per cent to close at 50k per share. This contributed 71.77 per cent and 52.06 per cent to the total equity turnover volume and value, respectively. The Oil and Gas Industry followed with 171.174 million shares worth N3.549 billion in 3,699 deals.

According to analysts a Cowry Asset Management Ltd., looking ahead to the next week, a mixed trend is expected. During the week, selloffs in Seplat, Fidelity Bank, and Transnational Corporation, among 34 other declined equities, drove the Nigerian Exchange Ltd. broader index down by 0.08 per cent week-on-week. Notably, the NGX All-Share Index and market Capitalisation depreciated by 0.08 per cent to close the week at 99,221.14 and N56.128 trillion, respectively, as against…

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