NGX records marginal decline amidst surge in trading Volume and Value of 49.95% and 86.66% respectively 

This decline came just a day after the previous session when the market experienced a slight uptick.

Market capitalization dipped slightly, decreasing by N6.728 billion to N59.425 trillion from the previous N59.431 trillion, despite a total of 6,719 trades for the day.

Notably, the loss occurred despite a significant increase in both trading volume and value compared to the prior session.

The volume surged to 358.85 million shares from the previous 239.30 million shares, while the value of trades jumped to N11.96 billion, marking an 86.66% increase from N6.40 billion.

JAPAULGOLD led the trading volume chart, while SEPLAT dominated in terms of trade value.

The market’s downward movement was driven by losses in ARADEL (-9.99%), DEAPCAP (-9.66%), and CHAMPION (-8.80%). Conversely, MCNICHOLS topped the gainers’ chart with a 10% rise, followed by UPL at 9.41% and DAARCOMM at 9.09%.

The market recorded a significant 49.95% increase in trade volumes, with an additional 119.54 million shares traded, bringing the total to approximately 358.85 million shares. This marked a notable rise from the 239.31 million shares recorded in the previous session.

JAPAULGOLD led the way in terms of volume, trading 136 million shares, followed by UBA with 38.59 million shares. Other major contributors included ZENITHBANK with 27.91 million shares, ACCESSCORP with 27.42 million shares, and FCMB with 11.91 million shares.

In terms of trade value, there was an impressive 86.66% jump, bringing the total to N11.96 billion, up from N6.41 billion in the prior session—an increase of N5.55 billion.

SEPLAT led the pack in terms of trade value, contributing N5.00 billion, followed by ARADEL with N1.89 billion, ZENITHBANK with N1.04 billion, UBA with ₦965.09 million, and ACCESSCORP with N558.30 million.