Equities investors lose N363bn as bears persists at NGX

Negative sentiments persist at the Nigerian Exchange Limited (NGX) leaving the All Share Index (ASI) depreciating by 1.81 per cent on Tuesday.
Basically, losses in large-cap stocks like Airtel Africa, Presco, BUA Cement pushed the local stock market to a new year-low as the ASI stood at 37,847.07 basis points, bringing its Year-to-Date performance to -6.02 per cent.
Market Capitalisation followed the direction of the ASI to stand at N19.726 trillion, a 1.81 per cent loss from the N20.089 trillion it stood at the end of the previous trading session.
Thus, the negative outing recorded on Tuesday made investors poorer as they shed N363 billion from their net worth.
Market breadth swayed in favour of the bears, as 18 counters in the gainers’ chart were pitted against 22 counters in the losers’ chart.
On the chart, Fidson, Vitafoam, Redstar Express, Veritas Kapital and Chams led the top gainers as the best-performing stocks of the day.
From the rear of the chart, Airtel Africa, Mutual Benefits, Cornerstone Insurance, Learn Africa and Ikeja Hotels populated the top losers’ chart.
Most sectoral indices closed in tandem with the ASI save for the Consumer Goods and Oil&Gas sectors that were up 0.02 per cent and 0.05 per cent respectively, as NSE ASEM closed flat.
Market activity as measured by the volume of trades inched up in the session with 218 million units of shares traded in
the session, a 4.33 per cent increase from a volume of 209 million units traded in the previous session.
Market turnover was also up in the session as it increased by 54.59 per cent to stand at N2.726 billion against a value of N1.763 billion recorded in the previous trading session.
Transnational Corporations was the most traded stock, as it is flanked in the trading session by Vitafoam, Dangote Sugar, FBN Holdings and Access Bank to complete the list of the five most traded stocks in terms of volume of trades.
With regards to the value of traded stocks, MTN Nigeria, Dangote Sugar, Vitafoam, Zenith Bank and Stanbic IBTC Holdings made up the top five performers.


FACT CHECK: Did UNICEF Say Blocking Children’s Access To Pornography Constitutes Human Rights’ Infringement?

CLAIM 1: A Twitter user claims UNICEF said any efforts to block children from accessing pornography might infringe their human rights.Equities investors lose N363bn as bears persists at NGX

Equities investors lose N363bn as bears persists at NGX

You might also like

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. AcceptRead More