Equities investors lose N34bn as bears persists at NGX

Equities investors at the Nigerian Exchange Limited (NGX), on Thursday, lost N34 billion from their investments as the trading session closed bearish.

The All Share Index (ASI) dipped by 0.15 per cent to peg the ASI at 43,285.47 basis points, bringing the month-to-date and year-to-date outings of the ASI to stand at 2.97 per cent and 7.49 per cent respectively.

This outing pegged the equities market capitalisation at N22.589 trillion as investors lost N34 billion in the session, following the previous day’s sentiments.

Market breadth closed in favour of the bears with 23 counters in the losers’ chart pitted against 12 counters in the gainers’ chart.

E-Tranzact and Vitafoam gained 10 per cent apiece to become the best-performing stocks in the session, as they’re flanked by Academy Press, Jaiz Bank and Mansard Insurance to complete the list of the top five gainers. From the rear of the chart, CHAMS sheds the most weight to lead the laggards’ chart as it is flanked by Regal Insurance, Unity Bank, FBN Holdings and ABC Transport to complete the top losers’ chart.

Most sectoral indices closed in tandem with the ASI, save for NGX Insurance and NGX Consumer Goods sectors that gained 0.59 per cent and 0.14 per cent respectively, while NGX Industry and NGX ASEM closed flat.

The market activity also went in the direction of the overall sentiments as measured by both volume and value of trades lost weight in the session with daily traded volume standing at 211 million units, representing a 20.49 per cent decrease from a volume of 265 million units traded in the previous session.

The value of traded stocks waned by 57.17 per cent in the session to stand at N2.606 billion as against a value of N6.085 billion recorded in the previous trading session.

Sterling Bank dominated the volume charts as the top traded stock by volume for the trading session. This is followed by E-Tranzact, Transcorp, Guaranty Trust Holding Company and Jaiz Bank to complete the list of the five most traded stocks by volume.

With regards to the value of traded stocks, Airtel Africa took the lead of the top five performers as well. It is flanked by Nestle, Guaranty Trust Holding Company, Dangote Cement and lastly Nigerian Breweries.

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