Negative sentiments persistent at NGX as ASI goes 0.3% lower

At the end of trading activities at the Nigerian Exchange Limited (NGX), on Thursday, the All-Share index further declined by 0.30 per cent to close at 52,815.78 basis points amid sustained bearish sentiment.

The bearish momentum was a result of sustained sell-off witnessed on Royal Exchange, Champion Breweries, FCMB Group, International Breweries and Nigerian Breweries as their respective share values depreciated by 10.0 per cent, 8.63 per cent, 6.57 per cent, 5.66 per cent and 4.65 per cent.

Consequently, the Month-to-Date loss printed -0.3 per cent, while the Year-to-Date return moderated to +23.7 per cent.

Equities investors, therefore, lost N72.25 billion as the market capitalisation settled at N28.49 trillion.

As measured by market breadth, market sentiment was negative as 25 tickers lost relative to 11 gainers. On the performance board, Royal Exchange recorded the most significant losses of the day having declined in value by 10.0 per cent and 9.8 per cent respectively, while Ellah Lakes and PZ topped the gainers’ list after their respective shares appreciated by 9.6 per cent.

Nevertheless, the sub-sector gauges were largely negative, the NGX Banking, the NGX Insurance, the NGX Consumer Goods, NGX Oil/Gas and the NGX Industrial indices declined by 0.97 per cent, 0.60 per cent, 1.76 per cent, 0.07 per cent and 0.02 per cent respectively.

Elsewhere, Market activity was mixed today, as the volume of stocks traded today fell by 7.08 per cent to 274.43 million units; while the value of stocks traded increased by 12.20 per cent to N4.03 billion.

FBN Holdings was the most traded stock by volume and value at 74.66 million units and N836.14 billion, respectively.

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Negative sentiments persistent at NGX as ASI goes 0.3% lower