NGX: Investors lose N122bn as bears hit fourth day

Bears maintain grip as the Nigerian equities market extends bearish outing into the fourth trading session of the week amidst selling pressures.

Consequently, the benchmark index of the Nigerian Exchange Limited (NGX) dipped further by 0.51 per cent to peg the ASI at 42,247.98 basis points.

This outing brought the month-to-date and year-to-date outings of the All-Share Index to stand at -2.31 per cent and 4.91 per cent respectively.

Thus, Investors lost N122 billion on Thursday as the equities market capitalization was pegged at N22.045 trillion.
Market breadth closed in favour of the bears with 34 counters in the losers’ chart pitted against 17 counters in the gainers’ chart.

Meyer gained ten per cent to become the best performing stock in the session. It is flanked by NEM Insurance, Royal Exchange, Japaul Gold and Cham to complete the list of the top five gainers.

From the rear of the chart, BOC Gas sheds the most weight to lead the laggards’ chart as it is flanked by UPDC Real Estates, Trans Nationwide Express, Livingtrust Mortgage Bank and AxaMansard Insurance to complete the top losers’ chart.

Most sectoral indices closed in the same direction with the ASI, save for the NGX Consumer Goods sector that gained 0.08 per cent, while NGX ASEM closed flat.

Market activity as measured by both volume and value of trades closed in opposite direction at the end of the trading session as daily traded volume stood at 324 million units, representing a 3.42 per cent decrease from a volume of 335mn units traded in the previous session.

The value of traded stocks inched up by 49.02 per cent in the session to stand at N5.294 billion as against a value of N3.552 billion recorded in the previous trading session.

FBN Holdings dominated the volume charts as the top traded stock by volume for the trading session. This is followed by Guaranty Trust Holding Company, Access Bank, Transcorp and Zenith Bank to complete the list of the five most traded stocks by volume.

With regards to the value of traded stocks, FBN Holdings took the lead of the top five performers as well. It is flanked by Seplat Energy, Guaranty Trust Holding Company, MTN Nigeria and lastly Zenith Bank.

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NGX: Investors lose N122bn as bears hit fourth day