The local bourse’s bearish momentum continued, on Thursday, despite the uptick in trading activities at the Nigerian Exchange Limited (NGX).
Consequently, equities investors lost N159.54 billion as the market capitalisation settled at N20.05 trillion as against an opening mark of N20.21 trillion
The All-Share Index (ASI) dipped by 0.79 per cent, largely because of sell-offs witnessed on GTCO, Oando, BUA Cement and UACN. Their respective share prices fell by 1.69 per cent, 9.70 per cent, 5.21 per cent and 8.93 per cent to N29.05, N4.75, N67.30 and N10.20.
Also, the Exchange printed a higher number of 22 losers than 17 gainers at the close of the trading session.
Accordingly, Month-to-date gain moderated to +1.5 per cent, while Year-to-Date loss increased to -4.4 per cent.
Similarly, the bearish themes dominated the sub-sectors tracked amid profit-taking activities. The NGX Industrial, NGX Oil & Gas, NGX Banking and the NGX Consumer Goods indexes nosedived by 2.02 per cent, 1.93 per cent, 0.81 per cent and 0.35 per cent respectively. However, the NSE Insurance index rose by 3.24 per cent.
Meanwhile, trading activity picked on huge transactions on GTCO and Oando shares; total deals, volume and value of stocks traded rose by 15.56 per cent, 9.46 per cent and 5.28 per cent to 4,975 deals, 0.26 billion units and N1.98 billion respectively.
Oando was the most traded stock by volume at 56.25 million units, while GTCO was the most traded stock by value at N444.93 million.
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Equities investors lose N159.54bn despite robust activities