Stock Market Index Dips as Investors Lose N4bn

Stock Market Index Dips as Investors Lose N4bn

The equities segment of the Nigerian Exchange, NGX, declines further on Thursday over bear dominated trading session that plunged investors’ networth lower.

According to data from the local bourse, key performance indicators tracked lower amidst higher yields on government instruments in the fixed income market.

The Nigerian Exchange All-share index declined by 7.46 basis points, representing a marginal decrease of 0.02% to close at 47,524.38 points, according to data from the local bourse. Overall, market capitalisation dropped by N4.06 billion to close at ₦25.885 trillion from ₦25.889 trillion yesterday.

Stocks traders said in today’s note that market activities were down as the total volume and total value traded for the day decreased by 44.23% and 42.83% respectively.

Citing data from the Nigerian Exchange, Atlass Portfolios Limited said approximately 86.55 million units valued at ₦2,090.55 million were transacted in 3,264 deals.

GTCO was the most traded stock in terms of volume, accounting for 22.13% of the total volume of trades, followed by ZENITHBANK (9.86%), ACCESSCORP (9.76%), UBA (5.16%), and FBNH (4.56%) to complete the top 5 on the volume chart.

AIRTELAFRI was also the most traded stock in value terms, with 44.16% of the total value of trades on the exchange. HONYFLOUR topped the advancers’ chart with a price appreciation of 9.79 percent, trailed by NEIMETH (9.52%), FIDSON (7.88%), CHAMS (7.69%), LIVESTOCK (6.80%), and eight (8) others. READ:eNaira Users Hit 200,000, N4bn Transactions Value – Emefiele

Ten stocks depreciated, topped by UACN with a price depreciation of 9.76% to close at ₦9.25.

Shares of GEREGU Power fell by 9.02%, while LASACO lost 6.67% and there was 5.45% price down in CORNERST.  Share of CHAMPION was down by 3.33% and INTBREW dipped by 2.11% and FCMB dropped lower by 0.64%.

Today, the market breadth closed positive, recording 13 gainers and 10 losers. The sectorial performance closed par, as two out of the five major market sectors were down, led by the Consumer goods sector (-0.12%), and the Oil & Gas sector (-0.07%).

Two indices were up today as the banking sector popped up 0.93% and the Insurance sector gained 0.22% while the Industrial sector was unchanged.

# Stock Market Index Dips as Investors Lose N4bn#

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