Bears Dominate Local Stock Market As Investors Lose N29.12bn

The Nigerian Stock Exchange (NGX) Limited opened the week bearish as Investors recorded a N29.1 billion loss by the end of trading on Monday.

The NGX All-Share Index dipped by 0.11% to close at 49,991.41 basis points as against a 0.31% gain recorded to close at 50,045.83 basis points at the end of the previous trading session. In Naira terms, the NGX Market CAP records a N29.12bn loss. YTD, the NGXASI Stands at +17.03%

The total volume traded declined by -16.29% to close at 200.92m, valued at N1.45bn and traded in 3,976 deals. STERLNBANK was the most traded stock by volume with 90.89m units traded while MTNN was the most traded stock by value which is put at N252.47m.

Sectoral performance was broadly negative as three (3) NGX sector indexes closed northward, twelve (12) closed southward and three (3) closed flat. The NGX Consumer Goods Index inched up by 0.55% to top the gainers’ chart while the NGX Banking Index dipped by 0.91% to top the losers’ chart.

The gote index closed flat at 128.39 basis points while the Toni index dipped by 0.98% to close at 107.38 basis points.

At the close of trading, the market recorded 12 gainers to 15 losers and 73 unchanged. CHAMS topped the list of gainers while ABCTRANS topped the list of losers.

Thus, market breadth closed negative as the Market Breadth Index (MBI) is put at -0.04x.