NGX Trading Falls Again as Investors lose N273.66bn
Bearish sentiments persisted in the Nigerian equities market for the third consecutive session in the week as sell pressures in TRANSCORP caused a 0.4 percent decline in the benchmark index, the NGX All Share Index to 106,434.02 points at the close of trading on Wednesday.
Consequently, the Month-to-Date analysis settled at a negative trench of 1.3 percent, while the Year-to-date return, though still positive, declined to 3.4 percent.
Similarly, the market capitalization shrank to N66.67 trillion as investors suffered a loss of N273.66 billion on the value of their equities.
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Analysis of market activities shows that total trading volume decreased by 5.6 percent to 373.20 million units, valued at N11.08 billion, and exchanged in 11,198 deals. FIDELITYBK was the most traded stock by volume at 47.92 million units exchange ownership, while OKOMUOIL was the most traded stock by value at N2.53 billion.
Sectoral performance was also bearish as the Insurance, Consumer Goods, Banking, and Oil & Gas indices declined by 3.9 percent, 1.5 percent, 0.8 percent and 0.1 percent respectively. The Industrial Goods index remained unchanged.
As measured by market breadth, market sentiment was negative (0.3x), as 41 tickers lost relative to 12 gainers. CAVERTON and ETERNA led the losers chart shedding 10.0 percent and 9.7 percent respectively. On the other hand, TANTALIZER and UHOMREIT recorded the highest gains of the day, adding 9.6 percent and 8.8 percent to their share price respectively.
