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NGX: Bears Dominate Midweek Trading As Investors Lose N27.93bn

The Nigerian equities market closed in negative territory on Wednesday as investors recorded a N27.93 billion loss by the end of trading.

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NGX: Bears Dominate Midweek Trading As Investors Lose N27.93bn

The key market indicator dipped by 51.79bps amid negative market breadth.

The NGX All-Share Index dipped by 0.10% to close at 49,575.93 basis points against the previous flat position recorded to close at 49,627.72 basis points at the end of the last trading session. The NGXASI Stands at +16.06%.

The total volume traded advanced by +23.22% to close at 197.46m, valued at N2.94bn and traded in 3,462 deals. Courtville was the most traded stock by volume with 87.14 units traded while Nestle was also the most traded stock by value which is put at N1.63bn.

Sectoral performance was broadly negative as zero NGX sector index closed northward, thirteen closed southward and five closed flat. The NGX Banking Index dipped by 1.32% to top the losers’ chart.

The gote index closed flat at 128.42 basis points while the Toni index declined by 0.70% to close at 109.29 basis points.

At the close of trading, the market recorded 13 gainers to 17 losers and 68 unchanged. Regalins topped the list of gainers while FTNCOCOA topped the list of losers.

Thus, market breadth closed negative as the Market Breadth Index (MBI) is put at -0.06x.

Multiverse led the gainers’ table during the day, gaining N9.69 per cent to close at N2.83, Microfinance Bank followed with a gain of 7.84 per cent to close at N1.65, Pharm Deko added 5.13 per cent to close at N2.05, Cutix Plc added 5.12 per cent to close at N2.26, Bank gained 3.02 per cent to N3.41.

On the contrary, Redstarex topped the losers’ chart, shedding 10 per cent to close4 at N2.43, Caverton trailed with a drop of 4.55 per cent to close at N1.05, Livestock Feeds fell by 4.31 per cent to close at N1.11, Sovereign Trust Insurance down by 3.70 per cent to close at N0.26, Lasaco Insurance also fell by 3.13 per cent to close at N0.93.

was the most active stock during the day, exchanging 26.736 million shares valued at N536.647 million, Courteville Solutions followed with an account of 24.102 million shares cost N11.328 million, Transnational Corporation of Nigeria exchanged 16.249 million shares valued at N16.991 million, International Insurance sold 12.768 million shares cost N20.429 million, Chams traded 9.314 million shares cost N3.224 million.

In all, investors exchanged N1.487 billion on 160.243 million shares in 3847 deals, as against 86.594 million shares worth N1.170 billion that exchanged hands the previous day in 3377 deals.

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