Equity Investors Lose N90 Billion as Market Falls 0.3%

Trading on the local stock exchange continued last week’s bearish performance, with the All Share Index (ASI) falling 0.3% to close at 51,390.25 basis points.

After Muslim Sallah resumed from Wednesday’s break, at the Nigerian Exchange Limited (NGX), heavy selling by BUA Cement and Access Corporation undermined market performance after their respective values ​​depreciated by 3.6% and 2.1%.
As a result, monthly and annual returns printed -0.8% and +20.3% respectively.

According to data from the local stock exchange, equity investors therefore lost N90 billion at the end of trading activities on Wednesday, with the market capitalization standing at N27.713 trillion against an opening of N27.803 trillion.

As measured by market breadth, market sentiment was negative with 23 tickers losing to 11 gaining. On the performance chart, Multiverse and Red Star Express posted the largest losses of the day, with their respective stock values ​​depreciating 10.0% and 9.8%, while CWG and Caverton were up. topped the list of winners after appreciating the value of their shares by 10.0%. and 9.8%, respectively.

Sector performance was weak at the end of trading activities, with the NGX Insurance, NGX Oil/Gas and NGX Industrial indices falling 2.96%, 0.04% and 0.01% respectively, while the NGX Banking and NGX Consumer Goods increased by 0.05% and 0.31% respectively.

However, market activity was strong today as the volume of shares traded increased by 72.69% to 198.82 million units, while the value of shares traded increased by 22.65% to reach N2.18 billion.

Guaranty Trust Holding Company (GTCO) topped the volume charts as the top volume-traded stock for the trading session, followed by Japaul Gold, United Bank for Africa (UBA), Jaiz Bank and International Breweries.

In terms of value of shares traded, GTCO also took the lead in the top five performers, flanked by UBA, Presco, MTN Nigeria and Zenith Bank.


Equity investors lose 90 billion naira… Equity investors lose 90 billion naira… Equity investors lose 90 billion naira…