NGX: Equities investors lose N1.3trn

Equities investors yesterday lost more than N1.3 trillion as the Nigerian Exchange (NGX) opened the week with negative sentiment in key sectoral indices.

The bearish trend dragged key market performance indicators lower by 84 basis points.

The downward trend, which started last week, extended with profit-taking in recently appreciated mid-cap and blue-chip stocks across major sectors.US Dollar Rally

The Industrial goods and Insurance sectors led losses, driven by selloffs in BUACEMENT, FCMB, ZENITHBANK, and GTCO, among others.

NGX All-share index (ASI) fell by -2,049.65 basis points in today’s trading session, indicating a -0.84% decline to close at 241,749.11.

Also, the stock market capitalisation declined by N1,315.28 trillion, representing a -0.84% decline, settling at N155.13 trillion.

However, market activity was up with the total volume and the total value of all trades executed in the local bourse increasing by +18.64% and +14.81%, respectively.Exchanges

FCMB topped volume drivers in the market, accounting for 19.64% of all units traded, followed by INTBREW (5.14%), ACCESSCORP (4.76%), MCNICHOLS (3.89%), and STANBIC with 3.53%.

SEPLAT drove transaction value, accounting for 16.27% of all trade value, making it the most actively traded on the exchange.

NIDF topped gainers chart, up by +9.97%, trailed by INTBREW (+9.77%), NAHCO (+8.36%), UACN (+8.11%), DAARCOMM (+6.67%), VITAFOAM (+5.87%), and thirteen others. A total of forty stocks depreciated.

With a price depreciation of -10.00%, PZ topped the worst performers’ chart, followed by BUACEMENT (-9.99%), REDSTAREX (-9.98%), RTBRISCOE (-9.70%), CILEASING (-9.38%), and CAVERTON (-9.01%).

Hence, the market breadth closed on a negative note, as there were 19 gainers and 46 losers. Sectoral performance was negative today as four of the five major market sectors declined.

The Industrial goods sector led by -3.28%, followed by the Insurance sector (-2.18%), the Banking sector (-1.44%), and the Oil & Gas sector (-0.09%). Only the Consumer goods sector increased by +0.59%.

UPDATE NEWS:

Nigerians can now invest ₦2.5 million on premium domains and profit about ₦17-₦25 million. All earnings paid in US Dollars. Rather than wonder,

click here to find out how it works.