Investors Fortune drops by ₦75.1 Billion as All-Share Index Dip

Investors’ Fortune drops by ₦75.1 Billion as All-Share Index Dips

Investors’ fortune drops by ₦75.1 billion as the Nigerian Stock Exchange (NSE) All-Shares Index Dip on Tuesday.

Sell-offs in DANGCEM (-4.1%), ACCESS (-0.8%) and MANSARD (-8.2%) dragged the All-Share Index down 58 basis points (bps) to close at 24,883.70 points.

Thus, market capitalisation fell to ₦13.0 trillion, while year to date (YTD) loss settled at 7.3%.

Afrinvest stated that activity level improved as volume and value traded appreciated 17.5% and 73.6% to 206 million units and ₦2.5 billion respectively.

The top traded stocks by volume were ACCESS which transacted 29.2 million units, FIDELITY 27.8 million units and GUARANTY did 25.3 million units.

Meanwhile GUARANTY led by value with total trade worth ₦625.6 million, DANGCEM ₦368.5 million and ZENITH did ₦257.8 million.Investors' Fortune drops by ₦75.1 Billion as All-Share Index Dips

Afrinvest said across sectors under it coverage, performance was mixed as 3 indices gained, 2 lost while the AFR-ICT index closed flat.

The Banking and Consumer Goods indices advanced 0.5% and 1.0% respectively due to buying interest in GUARANTY (+1.0%), ETI (+2.5%), NIGERIAN BREWERIES (+6.3%) and CADBURY (+6.8%).

Also, the Oil & Gas index gained 0.3% following price accretion in ARDOVA (+4.9%).

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Meanwhile, losses in MANSARD (-8.2%), CHIPLC (-9.8%), DANGCEM (-4.1%) and WAPCO (-0.4%) led to a 2.5% and 2.2% decline in the Insurance and Industrial Goods indices respectively.

Investor sentiment as measured by market breadth waned to 0.9x from the 1.6x recorded previously as 16 stocks gained against the 17 decliners.

The top gainers were CADBURY (+6.8%), NIGERIAN BREWERIES (+6.3%) and MBENEFIT (+5.0%).

PRESTIGE (-10.0%), IKEJAHOTEL (-9.8%) and CHIPLC (-9.8%) lost the most.

“We expect mixed performance in subsequent trading sessions as low stock prices presents bargain hunting opportunities”, Afrinvest stated.

Investors’ Fortune drops by ₦75.1 Billion as All-Share Index Dips

Written By Ogochi Ndubuisi