Equities investors lose N151.3bn on 1.27% bearish trade

Negative sentiments persist as the local equities market records second day of bears, on Tuesday, with All Share Index (ASI) of the Nigerian Stock Exchange (NSE) depreciating by 1.27 per cent to close at 22,629.92 points, amid oil price decline to $20 dollar per barrel.

Equities investors lost N151.39 billion as the market capitalisation also dipped by 1.27 per cent to record a close N11.794 trillion as against the opening of N11.945 trillion. Hence, the year to date loss of the NSE ASI rose to 15.69 per cent.

Also, market breadth was negative as only four gainers were recorded as against 27 losers as all sectoral index closed negative.

Specifically, Champion Breweries and Oando led the bulk of decliners as they depreciated by ten per cent to close at 81 kobo and N2.50 Kobo, respectively, while Omoluabi Mortgage Bank led other three gainers having appreciated by 9.09 per cent to close at 60 Kobo per share.

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WAPCO also depreciated by 9.21 per cent or N1.05 Kobo to close at N10.35 Kobo at by the end of the day trading; Fidelity Bank’s share value declined by 8.99 per cent to close at N1.17 Kobo; while Chams lost 8.70 per cent to close at 21 Kobo. Cornerstone Assurance also notched N0.05 kobo to close at 54 kobo per share while Unity Bank lost 8.33 per cent in value to close at 44 Kobo

Other gainers aside Omoluabi Mortgage Bank are NPF Microfinance Bank, Lasaco Insurance and Learn Africa as they appreciated by 8.70 per cent, 4.17 per and 2.11 per cent respectively.

Meanwhile, the volume and value of shares traded declined by 27.53 per cent and 44.74 per cent 250.35 million units, valued at N2.79 billion and exchanged in 4,877 deals. FBNH was the most traded stock by volume at 71.06 million units, while Zenith Bank was the most traded stock by value at N695.03 billion, respectively.

NIGERIAN TRIBUNE