Investors lose N15bn as equities market further depreciates

The Nigerian equities market slips further in its negative trajectory to leave investors with N15 billion loss, on Wednesday.

Specifically, the All Share Index (ASI) of the Nigerian Stock Exchange (NSE) lost 0.07 per cent in Wednesday trading session to close at 40,465.32 basis points, shrinking the Year-to-Date (YtD) return to 0.48 per cent.

Consequently, investors lost N15 billion to bring the market capitalisation to N21.169 trillion as against an opening of N21.184 trillion.

Market breadth also closed in favour of the bears as 17 counters in the gainers’ chart were trumped by 22 counters in the losers’ chart.

On the performance chart of the day, Julius Berger, Living Trust, Honeywell Flour, Cornerstone Insurance and Wapic Insurance, topped the gainers’ list.

And from the rear of the chart, Beta Glass, Japaul Gold, Fidson Pharmaceutical, Chi PLC and Vitafoam, took the lead.

All Sectorial indices closed in tandem with the ASI save for the Insurance and Oil & Gas sectors that each gained 1.92 per cent and 0.20 per cent respectively as NSELOTUS and NSEASEM closed flat.

Market activity as measured by both volume and value of trades declined, as volume dipped up by 31.49 per cent to record 244 million as against 356 million recorded in the previous trading session, while the value of trades dipped by 53.95 per cent to stand at N2.654 billion from N5.763 billion recorded in the previous trading session.

FBN holding was the most traded stock in terms of volume, flanked by Transnational Corporation, Guaranty Trust Bank, Zenith Bank and Vitafoam.

With regards to the value of trades, MTN Nigeria, Guaranty Trust Bank, Zenith Bank and Vitafoam made up the top five performers.


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