Local stock market extends loss as investors lose N192.7bn

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4 years ago

Equities trading at the Nigerian Exchange (NGX) maintains the previous day stance as the All-Share Index (ASI) declined by 0.9 per cent to record 39,456.64 basis points, on Wednesday.

Investors lost N192.7 billion as the market worth shed per cent to settle at N60.64 trillion.

Performance recorded, on Wednesday, was primarily driven by losses in MTN Nigeria and Stanbic IBTC after they recorded 2.4 per cent and 10.0 per cent respective decline in their share value.

Consequently, Month-to-Date and Year-to-Date losses increased to -0.9 per cent and -2.0 per cent respectively.

As measured by market breadth, market sentiment was negative as 21 stocks declined compared to 18 gainers.

On the performance chart, Stanbic IBTC and CWG topped the losers’ list, while LASACO Insurance and Linkage Assurance recorded the most significant gains of the day with respective 9.6 per cent and 9.4 per cent gains.

Sectoral analysis indicated that performance was broadly negative as Banking, Consumer Goods, Oil & Gas, Insurance recorded losses by 1.7 per cent, 0.5 per cent, 0.2 per cent and 0.1 per cent respectively; while the Industrial Goods gained 0.3 per cent.

Activities at the local bourse on Wednesday was unimpressive as the total volume of trades decreased by 18.0 per cent to 349.56 million units, valued at N3.50 billion, and exchanged in 4,554 deals.

FBN Holdings stocks remained the toast of investor as it made the most traded stock by volume at 71.28 million units, while Zenith Bank stocks were the most traded by value at N544.35 million.

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FULL TEXT: A viral post on WhatsApp is asking N-Power candidates to verify the status of their application and see if they have been shortlisted for the batch C cash grant…Local stock market extends loss as investors lose N192.7bn

Local stock market extends loss as investors lose N192.7bn