NGX ASI sheds 1.7 per cent as equities investors lose N340bn

The market extends the negative sentiment that started during the last trading session as a negative outing by such large-capitalisation stocks as Airtel Africa, Okomu Oil and Presco push the equities market lower.

The Nigerian Exchange Limited’s All Share Index (ASI) lost 1.66 per cent to cross below the 39,000bps mark, to peg at 38,507.29 basis points. This brought the year-to-date performance to stand at -4.38 per cent.

This negative outing further shaved value off investors’ net worth as investors lost N340 billion in the session to peg the Equities Market Capitalisation at N20.069 trillion.

Consequently, market breadth also closed in favour of the bears, as 19 counters in the gainers’ chart were pitted against 26 counters in the losers’ chart.

CWG is the best performing stock in the session, as it is flanked by Berger Paints, Redstar Express, NEM Insurance and Wapic Insurance to complete the list of the top five gainers.

From the rear of the chart, Airtel Africa sheds the most weight to lead the laggards’ chart as it is flanked by Okomu Oil, Cornerstone Insurance, Learn Africa and Livestock to complete the top losers’ chart.

The sectorial indices recorded mixed outings in the session with the LOTUS index shedding the most weight as the Insurance sector gained the most weight.

Market activity as measured by the volume of trades inched up in the session with daily traded volume standing at 297 million units, a 2.86 per cent incline from a volume of 289 million units traded in the previous session.

Market turnover also followed suit to increase by 2.96 per cent in the session to stand at N3.650 billion as against a value of N3.545 billion recorded in the previous trading session.

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VERDICT: MISLEADING! UNICEF in its report explained that though there are different kinds of risks and harms that have been linked to children’s exposure to pornography but there is ‘no consensus’ on the ‘degree’ to which pornography is harmful to children.NGX ASI sheds 1.7 per cent as equities investors lose N340bn

NGX ASI sheds 1.7 per cent as equities investors lose N340bn

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