Market drops by 2.45% in one week, NGX delists GSK

In the trading week ended Friday February 9, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation depreciated by 2.45 percent and 2.49 percent to close at 101,858.37 points and N55.735 trillion respectively.

Similarly, all other indices finished lower with the exception of NGX ASeM which appreciated by 4.63 percent.

Twenty equities appreciated in price during the review week lower than 27 equities in the preceding week.

Sixty-eight equities depreciated in price higher than 64 in the preceding week, while 66 equities remained unchanged, higher than 64 recorded in the preceding week.

The NGX referred to its market bulletin of January 23 wherein the market was notified of the full suspension placed on trading in the securities of GlaxoSmithKline Consumer Nigeria Plc in preparation for the delisting of the Company.

“Following the approval of the Company’s application to delist its entire issued share capital from the Nigerian Exchange Limited (NGX), please be informed that the entire issued share capital of GSK were on Monday February 5, 2024, delisted from the Daily Official List of NGX,” the Exchange said on Friday.

The market recorded total turnover of 2.478 billion shares worth N47.856 billion in 54,982 deals, in contrast to a total of 3.893 billion shares valued at N95.147 billion that exchanged hands preceding week in 69,117 deals.

The Financial Services Industry (measured by volume) led the activity chart with 1.687 billion shares valued at N28.514 billion traded in 25,751 deals; thus contributing 68.10 percent and 59.58 percent to the total equity turnover volume and value respectively.

The Conglomerates Industry followed with 210.272 million shares worth N2.988 billion in 4,419 deals; and the Oil and Gas Industry, with a turnover of 203.777 million shares worth N2.139 billion in 4,544 deals.

Trading in the top three equities namely FBN Holdings Plc, Transnational Corporation Plc and Jaiz Bank Plc (measured by volume) accounted for 732.804 million shares worth N13.705 billion in 7,040 deals, contributing 29.57 percent and 28.64 percent to the total equity turnover volume and value respectively.