Equity Investors Lose N19 Billion As Bears Hold On At NGX

Shares trading on the Nigerian Exchange Limited (NGX) on Thursday was unimpressive as the market extended the previous day’s negative outing to end the week’s fourth trading session in the red region amid low turnover.

The All-Share Index (ASI) settled at 49,540.48 basis points from the previous close of 49,576.05 basis points, reflecting both the month-to-date and year-to-date performance of the All-Share Index. pegged at -0.59 percent and 15.98 percent from their previous close of -0.52 percent and 16.06 percent, respectively.

Investor net worth declined by N19 billion during the session as market cap followed the ASI’s direction to reach N26.721 trillion, representing a 0.07 percent drop from N26.740 trillion. the end of the previous trading session.

Bears’ camp dominated the market with 17 counters in the losers chart versus 8 counters in the winners chart.

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Sovereign Insurance gained 3.85 percent to become the best performing stock in the session, flanked by Cadbury, Courtville, Zenith Bank ND United Bank for Africa as they populated the top five winners, while from the back of the chart UAC Nigeria, Vitafoam, UPDCredit, UPDC and CHI Plc filled out the top five losers.

All sector indices closed in the same direction as the ASI, except NGX Lotus Islam, which gained marginal weight, while NGX Industry, NGX Growth and NGX ASEM sectors closed flat.

Market activity, as measured by both the volume and value of trades, declined in the session, with daily volume traded of 167,608 million units, which is 15.12 percent less than a volume of 197.458 million units traded in the previous session.

The value of those traded shares fell 57.03 percent in the session, standing at N1.265 billion, up from a value of N2.943 billion recorded in the previous trading session.

Courtvilee as the highest-traded stock by volume for the trading session, followed by Access Corporation, Fidelity Bank, Teascorp and CHI Plc to complete the list of the five most-traded stocks by volume.

In terms of the value of the shares traded, Access Corporation led the top five performers, flanked by Seplat Energies, Zenith Bank, Guaranty Trust Holding Company and Vitafoam.

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