Negative sentiments persist at NGX as investors lose N3bn

At the Nigerian Exchange Limited (NGX) on Tuesday, negative sentiments persist to extend the previous day’s losses.

The All-Share-Index (ASI) dipped marginally by 0.01 per cent to settle at 49,445.31 basis points as against its previous close of 49,440.21 basis points.

This outing dragged both the month-to-date and year-to-date performance of the All-Share Index to -0.78 per cent and 15.75 per cent from their previous close of -0.80 per cent and 15.74 per cent respectively.

Equities investors, therefore, lost three billion naira as the market capitalisation followed suit the direction of the ASI to stand at N26.670 trillion, representing a 0.01 per cent decrease from the N26.667 trillion it stood at the end of the previous trading session.

Bears’ camp took dominance over the market breadth with 14 counters in the losers’ chart pitted against 11 counters in the gainers’ chart.

On the chart, RTBriscoe gained 10.00 per cent to become the best-performing stock in the session. It is flanked by FBN Holdings, Linkage Assurance Regal Insurance and Mutual Benefits as they populated the top five gainers’ chart. From the rear of the chart Total EnergiesLearn Africa, Honeywell FlourMills, Cutix and NPF Microfinance Bank populated the top five losers’ chart.

Key sectoral indices closed in the same direction as the ASI, with the NGX 30, NGX CG, NGX Banking, and NGX Insurance which gained weight, as NGX Consumer Goods, NGX Oil&Gas, NGX Lotus Islam and NGX Industry lost weight, while NGX Growth and NGX ASEM sectors close flat.

Market activity as measured by both volume and value of trades improved in the session, with daily traded volume standing at 147.585 million units, representing a 119.07 per cent spike from a volume of 67.369 million units traded in the previous session.

The value of those traded stocks inched up by 61.72 per cent in the session to stand at N2.394 billion as against a value of N1.480 billion recorded in the previous trading session.

Guaranty Trust Holding Company (GTCO) was the top traded stock by volume for the trading session, followed by Capital Hotel, FBN Holdings, Zenith Bank and Chams to complete the list of the five most traded stocks by volume.

With regard to the value of the traded stocks, MTN Nigeria took the lead of the top five performers, flanked by GTCO, Zenith Bank, FBN Holdings and Capital Hotel

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