At the Nigerian Exchange Limited (NGX), on Thursday, a bearish pull persists amid sustained profit-taking activity.
Specifically, selloffs in WAPCO, Unilever Nigeria, and United Bank for Africa drove the benchmark index lower by 0.08 per cent.
Thus, the NGX All Share Index (ASI) settled at 41,943.83 basis points, with the Month-to-Date and Year-to-Date returns unchanged at -0.2 per cent and +4.2 per cent, respectively.
Investors, therefore, lost N17 trillion as the market capitalisation settled at N21.89 trillion against an opening of N21.91 trillion.
As measured by market breadth, market sentiment was negative as 24 tickers lost relative to 13 gainers.
At the top of the losing table are Guinness Nigeria, Unilever, NGX Group, Wapco and CUTIX stocks as their respective share prices declined by 7.27 per cent, 8.65 per cent, 4.38 per cent, 1.92 per cent and 7.50 per cent respectively.
Negative momentum was sustained across sub-sector gauges save the NGX Insurance which rose by 1.29 per cent on AIICO Insurance and Linkage Assurance shares. The NGX Banking, NGX Consumer Goods, NGX Oil/Gas and the NGX Industrial indices moderated by 0.51 per cent, 0.58 per cent, 0.64 per cent and 0.13 per cent respectively.
Elsewhere, market activity sustained weak performance as the volume of stocks traded further decreased by 45.08 per cent to 0.16 billion, while the value of stocks traded nosedived by 31.63 per cent to N1.41 billion.
FBN Holdings was the most traded stock by volume and value at 19.52 million units and N208.30 million, respectively.
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Bearish moments persist at NGX as investors lose N17bn
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