Categories: Business

Investors lose N55.8bn as bears persists at NGX

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4 years ago

Negative trading persists at the Nigerian Exchange Limited (NGX) on Tuesday, leaving investors with N55.8 billion loss.

At the end of trading activities, the Market capitalisation of the local bourse settled at N20.43 trillion as against an opening mark of N20.49 trillion.

Consequently, the All-Share Index dipped by 0.3 per cent to 39,219.61 basis points. Thus, Month-to-Date and Year-to-Date returns printed +1.7 per cent and -2.6 per cent, respectively.

Tuesday trading was weighed down by losses from Zenith Bank Plc as profit-taking dipped the bank’s shares by 1.0 per cent.
As measured by market breadth, market sentiment was negative, as 25 tickers lost, relative to 15 gainers.

On the performance chart, Nigerian Breweries and Livestock recorded the most significant losses of the day having dipped by 9.9 per cent and 9.8 per cent; while Transcorp Hotel and Honeywell Flourmills of Nigeria topped the gainers’ list by 10.0 per cent and 9.7 per cent.

Sectoral performance was broadly negative as the Consumer Goods, Oil & Gas, Banking and Insurance indices declined by respective 1.9 per cent, 0.4 per cent, 0.4 per cent and 0.3 per cent. On the other hand, the Industrial Goods index was flat.

Despite the bearish move at the Exchange on Tuesday, activities were impressive as the total volume of trades increased by 41.4 per cent to 425.66 million units, valued at N1.97 billion, and exchanged in 4,553 deals.

Transnational Corporations was the toast of investors for the day as it made the most traded stock by volume at 111.07 million units, while Zenith Bank was the most traded stock by value at N243.56 million.

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