NGX: Equities investors lose N12bn as ASI dips by 0.1 per cent

Sentiments in the domestic bourse turned negative, on Wednesday, as investors sold off FBN Holdings shares.

Precisely, the All Share Index (ASI) of the Nigerian Exchange Limited (NGX) declined by 0.06 per cent to close at 41,789.59 basis points.

Consequently, the Month-to-Date and Year-to-Date return moderated to +3.9 per cent and +3.8 per cent, respectively.
The Nigerian Equities Market slipped into negative territory amidst the outcome of third-quarter results, even as the decline in the share price of Nestle Nigeria partly accounted for the weak performance witnessed in the equities market on Wednesday.

Thus, the outing pegged the equities market capitalization at N21.809 trillion as investors lost N12 billion in the session.
Market Breadth however closed in favour of the bulls, with 24 counters in the gainers’ chart pitted against 15 counters in the losers’ chart.

Living Trust, AIICO Insurance, University Press Limited, Redstar Express and Total were the best-performing stocks in the session as they populate the top five gainers’ chart, while from the rear of the chart Glaxosmithkline, Transcorp Hotels, FBN Holdings, Veritas Kapital and African Prudential populated the top five losers’ chart.

Sectorial indices recorded mixed outings, with most sectors closing in opposite direction with the ASI. NGX GROWTH inched up by 5.87 per cent to gain the most weight, NGXCG dipped by 0.31 per cent to lose the most weight, while NGX Consumer Goods and NGX ASEM closed flat.

Market activity as measured by both volume and value of trades lost weight in the session with daily traded volume standing at 285 million units, representing 19.43 per cent decrease from a volume of 353 million units traded in the previous session.

The value of traded stocks declined by 42.49 per cent in the session to stand at N3.203 billion as against a value of N5.561 billion recorded in the previous trading session.

Market activity for the session was dominated by the financial sector, with FBN Holdings being the most traded stock, as it is flanked by AIICO Insurance, ETI, Transcorp and Fidelity Bank. With regards to the value of traded stocks, FBN Holdings, Nestle Nigeria, NGX Group, Guaranty Trust Holding Company and Nigerian Breweries made up the top five performers.

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NGX: Equities investors lose N12bn as ASI dips by 0.1 per cent