Investors Lose N20.61bn as NGX Opens Negative
Following selloffs in bellwether stocks, investors lose N20.61 billion on Monday as the Nigerian Exchange (NGX) opens on a negative note. The selling rallies happen as the market awaits the release of second-quarter earnings reports by corporates.
Today’s profit-making activities by local investors dragged key market indicators downward by 0.07 per cent while market capitalisation printed lower at N27.92 trillion.
The NGX All-Share Index plunged 38.22 points, representing a 0.07 per cent decline, and closed at 51,791.45, according to a daily market report. Meanwhile, the market activities were bullish, as the total volume and value rose by 52.81 per cent and 65.33 per cent, respectively.
Accordingly, the month-to-date loss settled at -0.1%, while the year-to-date return moderated to +21.2%. Approximately 194.12 million units valued at ₦2.82 billion were transacted in 4,899 deals, stockbrokers’ note shows. Overall, the market was negative with 17 losers, relative to 18 gainers.
Fidson Pharmaceutical drove the gainers’ chart in percentage terms by 9.82 per cent to close at N12.30 per share. Learn Africa followed with a gain of 9.79 per cent to close at N2.47, while UPDC rose by 9.71 per cent to close at N1.13 per share.
Prestige Insurance went up by 8.33 per cent to close at 39k, while Regent Alliance Insurance appreciated by 7.69 per cent to close at 28k per share.
On the other hand, Conoil led the losers’ chart in percentage terms by 9.9 per cent to close at N25.95 per share. Redstar Express and RT Briscoe followed with 9.09 per cent each to close at N2.50 and 40k per share. READ: NGX Edges Higher on Bargain Hunting in Bellwether Stocks
Cutix shed 7.69 per cent to close at N2. 28 per share, while Unity Bank lost 6.67 per cent to close at 42k per share. Also, the total volume traded increased to 194.122 million units valued at N2.82 billion and exchanged in 4,899 deals.
Transactions in the shares of Transcorp topped the activity chart with 25.07 million shares valued at N31.77 million. Guaranty Trust Holding Company (GTCO) followed with 20.18 million shares worth N413.02 million, while United Bank for Africa (UBA) traded 15.59 million shares valued at N131.22 million.
AIICO traded 13.61 million shares valued at N8.32 million, while First Bank of Nigeria (FBNH) transacted 11.63 million shares worth N131.92 million. Today, sectoral performance was bearish as three of the five sectors closed negatively compared to the previous session.
The bear class was led by Consumer Goods which declined by 0.94%, Oil & Gas lost 0.35%, and Industrial Goods dipped by 0.12%. On the other hand, Insurance and Banking grew by 0.14% and 0.17%, respectively. # Investors Lose N20.61bn as NGX Opens Negative
