Investors lose N66 billion as stock market dips

The Nigerian equities market on the Nigerian Exchange Ltd. (NGX) on Wednesday closed on a negative note amidst the outcome of financial year results.

The NGX All Share Index (ASI) dipped by 0.26 per cent  to 47,360.79 basis points from 47,482.73 basis points on Tuesday.

The figure made both the month-to-date and year-to-date performance of the ASI to stand at -0.07 per cent and 10.87 per cent, respectively.

Investors lost N66 billion in the trading as the market capitalisation stood at N25.525 trillion, representing a decrease of 0.26 per cent from the N25.591 trillion recorded in Tuesday trading session.

The negative performance was with 34 stocks recording decline as against 15 stocks with gains.

Royal Exchange gained 10.00 per cent or 15k to close at N1.65 per share, becoming the best performing stocks in the session.

Seplat followed with 9.33 per cent, gaining N88.2 to close at N1,034 per share, while Multiverse recorded 9.09 per cent with an increase of two Kobo to close at 24k.

Also, NEM and FCMB inched up by 8.4 per cent and 8.1 per cent as both gained 32k and 26k each to close at N4.14 and N3.16 per share, respectively.

On the losers’ chart, Niger Insurance led with 10 per cent as it shed three kobo to close at 27k  per share.

Second was International Breweries, depreciating with 9.7 per cent, losing 55k to close at N5.10 per share.

R.T Briscoe dropped by 9.1 per cent with seven kobo to close at 70k per share, while NGXGROUP  fell by 8.7 per cent, shedding N2.2 to close at N23.10 per share.

Cornerstone Insurance, the fifth in  the top losers’ chart, declined by 8.6 per cent after dropping six kobo to close at 64k.

Market activity as measured by both volume and value shed weight in the session with daily traded volume standing at 279.954 million units, representing a 24.45 per cent decrease from a volume of 370.543 million units traded in the previous session.

Value of traded stocks dipped by 46.99 per cent to stand at N4.163 billion as against a value of N7.853 billion recorded in the previous trading session.

Transcorp dominated the volume charts as the top traded stock, followed by UCAP, Access Bank, Zenith Bank, and First City Monument Bank (FCMB).

Also, with regards to the value of traded stocks, SEPLAT took the lead of the top five performers as well. It is flanked by Airtel Africa, Zenith Bank, NGXGROUP,

and lastly UCAP.


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