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Bears Dominate Equities Market As Investors Lose N124.9bn

The Stock Exchange (NGX) Limited remained bearish on Thursday as investors recorded a N124 billion loss, OduNews reports.

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Bears Dominate Equities Market As Investors Lose N124.9bn

The key market indicator dipped further by 231.57bps amid increased sell pressure.

The NGX All-Share Index declined by 0.47% to close at 49,190.34 basis points as against the 0.05% loss recorded previously to close at 49,421.91 basis points at the end of the last trading session.

The total volume traded advanced by +144.51% to close at 51.88m, valued at N590.01m and traded in 2,981 deals. NGXGROUP was the most traded stock by volume with 30.75m units traded while NGXGROUP was also the most traded stock by value which is put at N553.54m.

NGXGROUP led the volume chart with a 24.25% contribution and was closely followed by ZENITH and Fidelity Bank.

Sectoral performance was broadly negative as four NGX sector index closed northward, eleven closed southward and three closed flat. The NGX Banking Index inched up by 0.42% to top the gainers’ chart while the NGX Industrial Index dipped by 2.30% to top the losers’ chart.

The gote index closed flat at 128.26 basis points while the Toni index also closed at 107.90 basis points.

At the close of trading, the market recorded 9 gainers to 14 losers and 70 unchanged. TRANSEXPR topped the list of gainers while CORNERS topped the list of losers.

Thus, market breadth closed negative as the Market Breadth Index (MBI) is put at -0.07x.

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