Equities investors lose N248bn as year-end trading goes bearish

Equities investors lose N248bn as year-end trading goes bearish

The local bourse records bearish turn, on Wednesday, after two days of public holiday leaving the benchmark index 1.08 per cent lower.

Basically, the All-Share Index (ASI) of the Nigerian Exchange Limited (NGX) shed 1.08 per cent to peg at 41,807.10 basis points.

This brought the month-to-date and year-to-date outings of the All-Share Index to stand at -3.33 per cent and 3.82 per cent respectively.

Investors, therefore, lost N238 billion in the session as the Market Capitalization followed suit the direction of the ASI to stand at N21.822 trillion from the N22.060 trillion it stood at the end of the previous trading session.

Market breadth closed in favour of the bulls with 17 counters in the gainers’ chart pitted against 16 counters in the losers’ chart.

Union Bank of Nigeria is the best performing stock in the session as it experienced buying sentiment. It is flanked by Royal Exchange, Sovereign Insurance, Livestock completed the list of the top five gainers. From the rear of the chart, BUA Cement shed the most weight to lead the laggards’ chart as it is flanked by May& Baker, PZ, Jaiz Bank and UPDCREIT to complete the top losers’ chart.

Most sectoral indices closed in the same direction with the ASI save for NGX Consumer Goods and NGX Banking that gained 0.33 per cent and 1.41 per cent respectively, while NGX Growth and NGX ASEM closed flat.

Market activity as measured by both volume and value gained weight in the session with daily traded volume standing at 180 million units, representing a 61.10 per cent increase from a volume of 112 million units traded in the previous session.

The value of traded stocks inched up by 62.38 per cent in the session to stand at N1.481 billion as against a value of N911.918 million recorded in the previous trading session.

Jaiz Bank dominated the volume charts as the top traded stock by volume for the trading session. This is followed by UBN, UACN, Transcorp and Sovereign Insurance to complete the list of the five most traded stocks by volume.
With regards to the value of traded stocks, MTN Nigeria took the lead of the top five performers as well. It is flanked by Zenith Bank, NGX Group, UACN and UBN. YOU SHOULD NOT MISS THESE HEADLINES FROM NIGERIAN TRIBUNE Claim: A national newspaper and multiple online platforms claim Brazil has adopted Yoruba as its official language and that the language would be included […]

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