Bears Return To Local Stock Market As Investors Lose N111.62bn

The Nigerian Exchange (NGX) Limited returned to negative territory on Thursday as investors recorded N111.62 billion, OduNews reports.

The market erased the previous day’s gain as the key market indicator dipped by 206.87bps to close below 49,000bps.

The NGX All-Share Index declined by 0.42% to close at 48,964.83 basis points as against a 0.02% gain recorded previously to close at 49,171.70 basis points at the end of the last trading session. The NGX Market CAP recorded a N111.62bn loss.

The total volume traded advanced by +117.37% to close at 220.78m, valued at N2.25bn and traded in 3,195 deals.

Jaiz bank was the most traded stock by volume with 85.91m units traded while Airtel was also the most traded stock by value which is put at N360.04m.

Sectoral performance was broadly negative as one NGX sector index closed northward, thirteen closed southward and four closed flat.

The NGX Premium Index inched up by 0.01% to top the gainers’ chart while the NGX Consumer Goods Index dipped by 3.22% to top the losers’ chart.

At the close of trading, the market recorded 12 gainers to 14 losers and 68 unchanged. Jaiz bank topped the list of gainers. The bank led the volume chart with 38.91% contribution and was closely followed by Zenith bank.

Airtel topped the value chart with a 15.98% contribution and was closely followed by Nestle and Stanbic.