Equities trading at the Nigerian Exchange Limited (NGX) closed bearish as the domestic bourse extended the previous day’s loss.
On Tuesday, sell-off activities on the high capitalised stock on NGX, BUA Foods and MTN Nigeria affected the overall performance of the market as the stocks lost 4.0 per cent and 1.0 per cent.
Thus, the All-Share Index (ASI) declined by 0.3 per cent to 47,057.24 basis points as the market capitalisation settled at N25.36 trillion having lost N78.8 billion.
Consequently, the Month-to-Date and Year-to-Date return moderated to 0.9 per cent and 10.2 per cent, respectively.
As measured by market breadth, market sentiment was negative, as 20 tickers declined, relative to 16 gainers.
On the performance board, Courtville and University Press Limited topped the losers’ list after depreciating by 7.3 per and 5.4 per cent respectively, while Presci and NEM Insurance recorded the most significant gains of the day with respective ten per cent increase in the value of their shares.
Despite the southward movement in the benchmark index, performance across sub-indices was largely positive except for the NGX Banking Index and the NGX Industrial Index which fell by 0.17nper cent and 0.01 per cent respectively. The NGX Insurance Index, NGX Consumer Goods Index and the NGX Oil/ Gas Index rose by 2.35 per cent, 0.04 per cent and 0.89 per cent respectively.
Meanwhile, market activity was weak as the total volume of trades declined by 16.6 per cent to 238.22 million units, valued at N5.09 billion, and exchanged in 4,826 deals.
Guaranty Trust Holding Company (GTCO) remained the most traded stock by volume and value at 32.35 million units and N887.64 million, respectively.
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Equities investors lose N78.8bn as bears persist at NGX