Investors Lose Big As Nigerian Bourse Bleeds Heavily

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NGXNGXEquities investors in the Nigerian Exchange (NGX) dipped big on Friday as the local bourse bleeds heavily, extending losses into the last trading session of the week amidst low turnover. Today, key indices moderated further as foreign investors’ participation in the market continues to drop, according to a market report.

At the close of the trading session, the Nigerian Exchange All-Share Index (NGX-ASI) was down 35 basis points to further drag the All-Share-Index to 49,370.62 basis points as against its previous close of 49,546.38 basis points, according to market data.

Stockbrokers said this outing pegged both the month-to-date and year-to-date performance of the All-Share Index at -1.98% and 15.58% from their previous close of -1.64% and 15.99% respectively.

Consequent to the selloffs season witnessed in the week, market capitalization followed suit, closing at N26.629 trillion, representing a 0.36% drop from the N26.724tn it stood at the end of the previous trading session. As the week closed, equities investors net worth waned by N95 billion.

Bears camp maintained dominance over the market breadth with 15 counters in the losers ‘chart pitted against 14 counters in the gainers ‘chart, Stockbrokers at APT Securities & Funds Limited in a market report.

In today’s trading session, JAIZBANK gained 5.95% to become the best-performing stock in the session. It is flanked by AIICO, ACADEMY, DANGSUGAR, and UPDCREIT as they populated the top five gainers’ charts.

From the rear of the chart, UPL, IMG, JAPAULGOLD, HONYFLOUR, and CHAMS populated the top five losers’ charts. Key sectoral indices closed in the same direction as the ASI, save for the NGX Banking index, NGX Insurance, and NGX consumer goods sectors that gained 0.23%, 0.13, and 0.06% respectively.

Meanwhile, NGXGROWTH, and NGX ASEM sectors closed flat. Market activity as measured by the volume of trades shed weight in the session with daily traded volume standing at 132.233 million units, representing a 10.04% downtick from a volume of 146.987mn units traded in the previous session.

The value of those traded stocks dipped by 38.64% in the session to stand at N1.626 billion as against a value of N2.650 billion recorded in the previous trading session.

The banking sector dominated the volume charts with the FBNH as the top traded stock by volume for the trading session.  This is followed by ACCESSCORP, UBA, GTCO, and ZENITH BANK to complete the list of the five most traded stocks by volume.

With regard to the value of traded stocks, FBNH took the lead among the top five performers. It is flanked by GTCO, ZENITH BANK, MTNN, and lastly ACCESSCORP.

 


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