Stock Investors Lose N266bn as NGX Year-to-Date Gain Shrinks to 2.38%

The selling pressure was mostly felt in the industrial goods sector, which closed lower yesterday by 3.39 per cent as a result of the loss incurred by BUA Cement.

The banking index depreciated by 0.74 per cent, and the energy space tumbled by 0.06 per cent.

However, the consumer goods counter improved during the session by 0.17 per cent, and the insurance sector expanded by 0.15 per cent, while the commodity industry closed flat.

When trading activities ended for the session, the All-Share Index (ASI) went down by 423.48 points to 105,375.69 points from 105,799.17 points and the market capitalisation declined by N266 billion to N66.078 trillion from N66.344 trillion.

At the market, investors transacted 350.0 million stocks worth N8.2 billion in 11,230 deals versus the 477.5 million stocks valued at N7.1 billion exchanged in 13,520 deals a day earlier, indicating an uptick in the trading value by 15.49 per cent and a fall in the trading volume and number of deals by 26.70 per cent and 16.94 per cent apiece.

Access Holdings traded 36.8 million equities worth N847.3 million to top the activity chart, Universal Insurance sold 30.1 million shares for N17.9 million, Fidelity Bank transacted 28.9 million stocks valued at N488.8 million, Jaiz Bank exchanged 22.0 million shares worth N70.1 million, and Zenith Bank recorded a turnover of 19.6 million equities valued at N930.0 million.

Business Post reports that yesterday, the bourse posted 28 price gainers and 22 price losers, implying a positive market breadth index and strong investor sentiment.

BUA Cement lost 10.00 per cent to close at N83.70, Ellah Lakes depleted by 4.82 per cent to N3.16, Regency Alliance declined by 4.41 per cent to 65 Kobo, Wema Bank weakened by 4.19 per cent to N10.30, and Omatek slipped by 2.99 per cent to 65 Kobo.

Conversely, Neimeth gained 10.00 per cent to settle at N2.97, Northern Nigeria Flour Mills improved by 9.99 per cent to N79.80, Custodian Investment appreciated by 9.69 per cent to N21.50, Sunu Assurances chalked up 7.99 per cent to N5.00, and Guinea Insurance garnered 7.69 per cent to sell at 70 Kobo.