Investors Lost N11 billion as Nigerian Exchange Index Slides

Investors Lost N11 billion as Nigerian Exchange Index Slides

Investors lost N11 billion on Wednesday as the Nigerian equity market closed on a negative note as equity investors renewed profit-taking activities.

Specifically, investors took profit on tickers such as STANBIC, ETERNA, HONYFLOUR, FBNH and UCAP as their respective share prices moderated by 3.21%, 9.02%, 9.78%, and 2.44%

Market data from the Nigerian Exchange shows that the All-Share Index marginally decreased by 0.02 percent to close at 43,245.02 points.

The market cap of equities listed on the NGX declined to ₦22.565 trillion from ₦22.576 trillion as on the previous day.  The total volume traded closed with an exchange of 243.185 million units valued at ₦3.75 billion traded in 3,777 deals.

However, the market breadth was positive with 23 gainers as against 18 losers. The NGX 30 Index marginally decreased by 0.02 percent to close at 1,758.68 points against 1,759.02 points as on the previous day.

Market turnover closed with a traded volume of 160.99 million units. Lafarge Africa and Fidelity were the key gainers, while Stanbic IBTC and FBNH were the key losers. Consequently, the Month-to-Date and Year-to-Date returns were unchanged at +2.9% and +7.4%, respectively.

The total volume traded increased by 11.6% to 243.19 million units, valued at NGN3.75 billion, and exchanged in 3,777 deals. ZENITH BANK was the most traded stock by volume at 37.41 million units, while NESTLE was the most traded stock by value at NGN1.06 billion.

Sectoral performance was broadly positive as the Insurance (+2.1%), Banking (+0.3%), Industrial Goods (+0.1%), and Consumer Goods (+0.1%) indices posted gains while the Oil and Gas (-0.2%) index declined.

CHAMS (+9.5%) and AIICO (+9.3%) recorded the highest gains of the day, while HONYFLOUR (-9.8%) and ETERNA (-9.0%) topped the losers’ list. # Investor Lost N11 billion as Nigerian Exchange Index Slides

Previous articleNigeria Air to Commence Operations Next Year, Says FG
Next articleEcobank Secures €100mln Loan from European Investment Bank
MarketForces Africa, a Financial News Media Platform for Strategic Opinions about Economic Policies, Strategy & Corporate Analysis from today's Leading Professionals, Equity Analysts, Research Experts, Industrialists and, Entrepreneurs on the Risk and Opportunities Surrounding Industry Shaping Businesses and Ideas.