Business

Bears persist at NGX as investors lose N37.6bn

Published by

2 years ago

At the Nigerian Exchange Limited (NGX) on Thursday, the All-Share-Index (ASI) moderated by 0.12 per cent to close at 55,956.59 basis points amid sustained bearish activity, thus extending losses for a second consecutive session.

Notably, large-cap stocks such as Nigerian Breweries and Dangote Cement experienced a decline in share prices as investors booked profits. Hence, their respective prices moderated by 1.80 per cent and 1.38 per cent, respectively.

Consequently, the Month-to-Date and Year-to-Date returns moderated to +0.3 per cent and +9.2 per cent, respectively.

On Thursday, equities investors lost N37.57 billion from overall investments as the market capitalization settled at N30.47 trillion by the end of the day’s trading activities.

As measured by market breadth, market sentiment was largely positive, as 41 tickers gained relative to 13 losers. On the performance board, NSL Tech and Unity Bank recorded the highest gains of the day having appreciated in share value by 10.0 per cent, respectively, while John Holt and Caverton topped the losers’ list after their respective share prices dipped by 9.7 per cent and 7.1 per cent.

Sectoral analysis indicated that out of five indices tracked, three closed in green except for the NGX Consumer Goods and NGX Industrial indexes, which fell by 0.13 per cent and 0.71 per cent, respectively. The NGX Banking, NGX Insurance, and NGX Oil/Gas indices rose by 0.99 per cent, 3.97 per cent, and 1.00 per cent, respectively.

Analysis of market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 17.52 per cent. A total of 531.78 million shares valued at N7.68 billion were exchanged in 6,061 deals. United Bank for Africa led volume and value charts with 177.48 million units traded in deals worth N1.72 billion.

READ ALSO FROM NIGERIAN TRIBUNE