NGX: Equities investors lose N83bn as ASI declines by 0.33%

The Nigerian equities extend losses to the first trading session of the week, as the All-Share index (ASI) slipped by 0.33 per cent to close at 46,687.85 basis points.

Bearish sentiments on MTN Nigeria, Guinness Nigeria, Wapco and other high cap stocks push the equity market at the Nigerian Exchange Limited (NGX) lower, thus the month-to-date and year-to-date performance of the ASI at -0.59 per cent and 9.30 per cent respectively.

Investors, therefore, lost N83 billion from their investment as the market capitalisation followed suit the direction of the ASI to stand at an N25.170 trillion, representing a 0.33 per cent decrease from the N25.253 trillion it stood at the end of the previous trading session.

On Monday, bulls’ camp took dominance over the market breadth, as 22 counters in the gainers’ chart were against 19 counters in the losers’ chart.

On the performance chart, Redstar Express gained 10.00 per cent to become the best performing stock in the session, flanked by NAHCO, Meyer, Veritas Kapital and UPDC. Conversely, Regal Insurance, Japaul Gold, Wapic Insurance, Linkage Insurance and Jaiz Bank populated the top five losers’ charts.

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All sectorial indices closed in the same direction with the ASI, aside for NGX Consumer Goods and NGX Oil&Gas which gained 0.20 per cent and 0.27 per cent respectively, while NGX Growth and NGX ASEM closed flat.

At the end of trading activities on Monday, market activity as measured by both volume and value of trades shed weight as the daily traded volume stood at 219.496 million units, representing a 14.70 per cent drop from a volume of 257.327 million units traded in the previous session.

The value of those traded stocks waned by 32.57 per cent in the session to stand at N1.931 billion as against a value of N2.863 billion recorded in the previous trading session.

Transnational Corporation dominated the volume charts as the top traded stock by volume for the trading session, followed by Fidelity Bank, United Bank for Africa, Zenith Bank and Access Holdings Group to complete the list of the five most traded stocks by volume.

With regards to the value of traded stocks, Zenith Bank took the lead of the top five performers as well, flanked by MTN Nigeria, NGX Group, Guaranty Trust Bank Holding Company (GTCO) and lastly Access Holdings.

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NGX: Equities investors lose N83bn as ASI declines by 0.33%

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NGX: Equities investors lose N83bn as ASI declines by 0.33%