Equities

Equities investors lose N78bn as bears persist at NGX

The local stock market extends its previous day’s negative outing to close the fourth trading session of the week in the red region despite improved turnover.

Basically, the All Share Index (ASI) shed 29 basis points (bps) to peg at 49,546.38bps as against its previous close of 49,691.17bps, thus ragging both the month-to-date and year-to-date performance of the All-Share Index to -1.64 per cent and 15.99 per cent.

Market capitalisation followed suit the direction of the ASI to stand at N26.724 trillion, representing a 0.29 per cent drop from the N26.802 trillion it stood at the end of the previous trading session, as investors networth waned by N78 billion in the session.

Bears’ camp maintained dominance over the market breadth with 24 counters in the losers’ chart pitted against 12 counters in the gainers’ chart.

FTN Cocoa gained 10.00 per cent to become the best performing stock in the session, while from the rear of the chart, NEM Insurance, and Okomu Oilpalm led the five losers’ chart.

Key sectoral indices closed in the same direction as the ASI, save for the NGX Banking sector which gained 0.18 per cent, while NGX Growth and NGX ASEM sectors closed flat.

Market activity as measured by the volume of trades gained weight in the session with daily traded volume standing at 146.987million units, representing a 14.13 per cent uptick from a volume of 128.786 million units traded in the previous session.

The value of those traded stocks on the other hand dipped by 35.75 per cent in the session to stand at N2.650 billion as against a value of N4.124 billion recorded in the previous trading session.

FBNH dominated the volume charts as the top traded stock by volume for the trading session, while with regards to the value of traded stocks, MTN Nigeria took the lead of the top performing stocks.

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