Business

Equities market closes flat as investors lose N889.1m

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2 years ago

Kehinde Akinseinde-Jayeoba

Equities trading at the Nigerian Exchange Limited (NGX) on Tuesday was parallel, thus leaving the All-Share Index (ASI) unchanged at 55,603.94 basis points.

Consequently the Month-to-Date and Year-to-Date returns are unchanged at -0.4 per cent and +8.5 per cent, respectively.

Equities investors, recorded a slight loss of N889.07 million from their overall investment as the market capitalisation settled at N30.29 trillion.

As measured by market breadth, market sentiment was negative, as 22 tickers lost relative to 10 gainers. On the performance board, MRS and NCR recorded the highest losses of the day having declined in share value by 10.0 per cent and 9.6 per cent, respectively, while Caverton and UACN topped the gainers’ list after their respective share prices appreciated by 9.6 per cent and 7.6 per cent.

Performance across sub-sector gauges tracked failed to reflect the mixed market performance, as three of the five indices tracked closed in the red, with the NGX Banking, NGX Consumer Goods, and NGX Oil/Gas Indices declining by 1.03 per cent, 0.05 per cent, and 0.42 per cent, respectively, while the NGX Insurance and the NGX Industrial Indices gained by 0.48 per cent and 0.33 per cent, respectively. In the broader market, the NGX Premium was unchanged, while the NGX-30 index decreased marginally by one basis point.

Meanwhile, trading activity improved as an analysis of market activities indicated that the total volume traded increased by 29.1 per cent to 159.46 million units, valued at N2.48 billion, and exchanged in 4,187 deals.
Transnational Corporation was the most traded stock by volume at 14.42 million units, while Zenith Bank was the most traded stock by value at N344.88 million.

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