NGX: Investors lose N301bn as bears persist

The domestic equities market extended previous day losses as investors sold off on the shares of Airtel Africa.

Basically, on Wednesday, the market capitalisation of the Nigerian Exchange (NGX) rested at N20.039 trillion as against an opening of N20.330 trillion. Consequently, investors lost N301 billion.

Thus, the All-Share Index declined by 1.5 per cent to 38,445.09 basis points. Accordingly, Month-to-Date and Year-to-Date losses increased to -3.5 per cent and -4.5 per cent, respectively.

As measured by market breadth, market sentiment was negative, as 25 tickers declined relative to 21 gainers.
On the performance chart, C&I Leasing and Airtel Africa topped the losers’ list with respective ten per cent dip in their share value, while Seplat and MRS recorded the most significant gains of the day with respective ten per cent appreciation in their share value.

Across sectors, the Oil & Gas and Industrial Goods indices recorded gains by 7.1 per cent and 0.9 per cent respectively, while the Insurance, Banking, and Consumer Goods indices declined.

The total volume of trades decreased by 24.9 per cent to 153.64 million units, valued at NGN2.45 billion, and exchanged in 3,494 deals. UACN was the most traded stock by volume at 10.01 million units, while SEPLAT was the most traded by value at NGN1.08 billion.

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