Equities trading at the Nigerian Exchange Limited (NGX) on Wednesday was bearish to reverse the previous day’s gains, thus closing lower by 0.1 per cent.
Basically, the All-Share Index (ASI) settled at 47,531.84 basis points, with investors losing N18.13 billion as the market capitalisation settled at N25.89 trillion by the end of the day trading activities.
Consequently, the Month-to-Date and Year-to-Date return settled at -3.0 per cent and +11.3 per cent, respectively.
As measured by market breadth, market sentiment was negative, as 17 tickers lost relative to nine gainers.
On the performance board, Honeywell Flour Mills topped the losers’ list after depreciating in share value by 9.8 per cent, while Red Star Express and May & Baker recorded the most significant gains of the day having advanced in share value by 8.5 per cent and 3.7 per cent respectively.
Given the benchmark index’s downward movement, performance across sub-indices was negative, with the exception of the NGX Oil/Gas Index, which gained by 0.35 per cent, and the NGX Industrial Index, which stayed steady. The NGX Banking Index, NGX Insurance Index, and NGX Consumer Goods Index each fell by 0.31 per cent, 0.53 per cent, and 0.05 per cent, respectively.
Analysis of market activities on Wednesday showed that trade turnover settled higher relative to the previous session, with the value of transactions increasing by 92.22 per cent.
The total volume traded increased by 23.5 per cent to 155.18 million units, valued at N3.66 billion, and exchanged in 3,797 deals.
Mutual Benefit was the most traded stock by volume at 41.92 million units, while Dangote Cement was the most traded stock by value at N2.06 billion.
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Equities investors lose N18.1bn as market closes bearish
Equities investors lose N18.1bn as market closes bearish