NGX: Equities market remains bearish as investors lose N11bn

Equities trading at the Nigerian Exchange Limited (NGX) maintained a southward stance amid profit-taking activities on Tuesday.

Consequently, the market fell by 0.40 per cent to peg the All-Share-Index(ASI) at 51,791.50 basis points from its previous close of 51,791.45 basis points.

This dragged both the month-to-date and year-to-date performance of the ASI to stand at 0.45 per cent and 20.76 per cent from their previous close of 0.05 per cent and 21.24 per cent respectively.

Also, the market capitalisation of the local bourse followed suit the direction of the ASI to stand at N27.811 trillion, representing a 0.39 per cent decrease from the N27.921 trillion it stood at the end of the previous trading session, as investors networth waned by N11.00 billion in the session.

However, bulls’ camp took dominance over the market breadth with 23 counters in the gainers’ chart pitted against 16 counters in the losers’ chart.

On the performance chart, RedStar Express gained 10.00 per cent to become the best performing stock in the session, flanked by John Holt, UPDC, Unity Bank and Academy Press. From the rear of the chart, International Breweries, CHI Plc, Jaiz Bank, Nascon and BUA Foods populated the top five losers’ charts.

Key sectoral indices closed in the same direction as the ASI, save for the NGX Industry sector that gained weight while NGX Oil&Gas, NGX Growth and NGX ASEM sectors closed flat.

Market activity as measured by the volume of trades improved in the session, with daily traded volume standing at 234.605 million units, representing a 20.85 per cent uptick from a volume of 194.121 million units traded in the previous session.

The value of those traded stocks, however, waned by 8.95 per cent in the session to stand at 2.570 billion as against a value of 2.822 billion recorded in the previous trading session.

CAP dominated the volume charts as the top traded stock by volume for the trading session, followed by Guaranty Trust Holding Company (GTCO), United Bank for Africa (UBA), Transnational Corporation and Sterling to complete the list of the five most traded stocks by volume.

With regards to the value of traded stocks, GTCO also took the lead of the top five performers, flanked by CAP, Zenith Bank, Seplat and UBA.

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NGX: Equities market remains bearish as investors lose N11bn