Business

Equities investors lose N58.9bn as sell-offs activities dip ASI by 0.1%

On Tuesday, equities trading at the Nigerian Exchange Limited (NGX) closed on a bearish note, as the All-Share Index (ASI) dipped by 0.12 percent to 97,260.75 basis points.

Losses in Oando, Nestle Nigeria and Dangotw Sugar impacted the overall lull in the market as these high capitalised companies depreciated by 9.42 percent, 3.95 percent and 4.83 percent, respectively.

This decline was reflected by a 0.12 percent reduction in market capitalization, which settled at N58.94 trillion, resulting in investor losses totaling N68.6 billion.

Consequently, the Month-to-Date and Year-to-Date returns settled at -0.4 percent and +30.1 percent, respectively

Market breadth closed negative with declining issues outnumbering the advancing ones as 28 tickers lost relative to 19 gainers.

On the performance board, Eunisell Interlinked led the gainers having appreciated in share value by 9.98 percent, followed by John Holt with 9.83 percent increase in share value. Sunu Assurance Nigeria’s stocks gained 9.71 percent, Universal Insurance’s earned 6.25 percent, while Regal Insurance appreciated by 4.17 percent.

On the losing end, VFD Group took the lead having dipped in share value by 10.00 percent, followed closely by Royal Exchange whose share price declined by 9.68 percent, while Oando’s shares decreased by 9.42 percent,

Thomas Wyatt by 8.85 percent and Dangote Sugar lost 4.83 percent.

However, sectoral performance was mixed: the banking sector gained 0.49 percent, insurance sector gained by 0.08 percent, oil/gas rose by 0.02 percent, while the consumer goods sector declined by 0.86 percent .

The industrial goods sector remained steady. Trading activity was strong, with the number of deals, trading volume, and trading value all up by 1.69 percent, 14.44 percent, and 19.69 percent, respectively.

Analysis of market activities for the day under review showed trade turnover settled higher relative to the previous session, with the value of transactions up by 23.21 percent.

A total of 350.38 million shares valued at N9.26 billion were exchanged in 10,224 deals.
United Capital led the volume chart with 76.76 million units traded while Aradel Holdings led the value chart in deals worth N1.55 billion.

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