NGX: Equities trading ends bearish as investors lose N24.6bn

Bearish sentiment dominates the domestic bourse as the All-Share Index (ASI) closes 0.09 percent lower to settle at 52,612.55 basis points.

On Tuesday, at the Nigerian Exchange Limited (NGX), previous day’s gain, thus the Year-to-Date return settling at +2.7 percent.

Notably, share prices of counters such as Nigerian Breweries, Champion Breweries, Geregu and Guaranty Trust Holding Company declined by 9.90 percent, 8.00 percent, 4.04 percent, and 0.41 percent, respectively.

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Equities investors, therefore, lost N24.59 billion as the market capitalisation settled at N28.66 trillion at the end of the day’s trading activities.

However, as measured by market breadth, market sentiment was positive as 20 tickers gained relative to 14 losers.

On the performance board, Mutual Benefits and Unilever recorded the highest gains of the day having appreciated in share value by 10.0 percent and 9.9 percent, respectively, while Nigerian Breweries and Caverton topped the losers’ list after their respective share prices dipped by 9.9 percent and 9.5 percent.

The performance of the tracked sub-sector gauges was mixed, with the NGX Banking and NGX Insurance indices rising by 0.32 percent and 0.36 percent, respectively, while the NGX Consumer Goods index and the NGX Industrial index decreased by 0.13 percent and 0.36 percent, respectively.

The NGX Oil & Gas index stayed constant. In the broader market, the NGX Premium index advanced by 33 basis points, however, the NGX-30 index fell marginally by 1 bps.

Analysis of market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 171.53 percent.

A total of 182.40 million shares valued at N4.82 billion were exchanged in 3,470 deals.

Geregu led the volume and value charts with 23.84 million units traded in deals worth N3.20 billion.