NGX: Investors lose N190bn as bearish trend continues
The negative sentiment continued in the local bourse yesterday as the All-share index dipped by 0.32% to settle at 104,181.32 points. As a result, the year-to-date (YTD) return fell to 39.33%, while the market capitalization shed N190.45bn to close at N58.91trn. The week had earlier opened on a bearish note on Tuesday, the first working […]
The negative sentiment continued in the local bourse yesterday as the All-share index dipped by 0.32% to settle at 104,181.32 points.
As a result, the year-to-date (YTD) return fell to 39.33%, while the market capitalization shed N190.45bn to close at N58.91trn.
The week had earlier opened on a bearish note on Tuesday, the first working day of the week after the Easter holidays.
The ASI had reached 104,518.14 points on Tuesday compared to the previous session’s 104,562.06 points.
But it dropped further yesterday amidst selloffs of GTCO (-1.23%), ZENITHBANK (-1.23%) and FBNH (-5.02%) which outweighed gains made by DANGSUGAR (+1.35%), FLOURMILL (+0.64%) and JBERGER (+0.08%).
Analysis of yesterday’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 39.04%. A total of 405.03m shares valued at N8.91bn were exchanged in 10,364 deals. ACCESSCORP (-4.20%) led the volume chart with 50.00m units traded while ZENITHBANK (-1.23%) led the value chart in deals worth N1.86bn.
Market breadth closed negative at a 0.63-to-1 ratio with declining issues outnumbering the advancing ones. INTENEGINS (-10.00%) topped thirty-one (31) others on the laggard’s table while UPL (+9.84%) led nineteen (19) others on the leader’s log.