NGX Investors Lose N119bn Despite Bullish Sentiment

This occurred despite the market breadth index closing positive as there were 33 price gainers and 23 price losers, indicating a bullish sentiment.

Haldane McCall topped the losers’ log after it shed 10.00 per cent to settle at N5.22, Learn Africa also depreciated by 10.00 per cent to N2.97, Ecobank lost 9.90 per cent to sell for N26.85, PZ Cussons went down by 9.88 per cent to N30.10, and Unilever Nigeria slumped by 9.75 per cent to N34.70.

On the flip side, Livestock Feeds finished on top of the gainers’ chart after it chalked up 10.00 per cent to quote at N8.03, VFD Group appreciated by 10.00 per cent to N72.60, NGX Group increased by 9.86 per cent to N35.65, Coronation Insurance improved by 9.60 per cent to N1.94, and Union Dicon gained 9.48 per cent to end at N6.35.

At midweek, the All-Share Index (ASI) decreased by 189.73 points to 104,187.00 points from 104,376.73 points and the market capitalisation moderated by N119 billion to N65.470 trillion from N65.589 trillion.

Investors bought and sold 376.6 million stocks worth N11.9 billion in 11,576 deals versus the 460.6 million stocks valued at N10.1 billion traded in 14,528 deals a day earlier, implying a growth in the value of transactions by 17.82 per cent and a drop in the trading volume and number of deals by 18.24 per cent and 20.32 per cent, respectively.

The busiest equity for the session was GTCO with 62.9 million units sold for N4.1 billion, Access Holdings traded 51.4 million units valued at N1.1 billion, Zenith Bank exchanged 32.3 million units worth N1.5 billion, UBA transacted 22.6 million units valued at N775.2 million, and Mutual Benefits traded 18.2 million units worth N16.6 million.

Business Post reports that the banking space went down by 1.60 per cent, the consumer goods index depreciated by 0.23 per cent, and the industrial goods sector crumbled by 0.04 per cent, while the energy counter appreciated by 0.47 per cent, while the commodity industry closed flat.