Investors Lost N19.80 Billion as Local Bourse Relapsed
Equity investors on the Nigerian Exchange (NGX) lost N19.80 billion mid-week as the local bourse relapsed again. Trading statistics shows that Investors reversed the previous day’s positive sentiment to continue profit-taking which started on Monday.
Earlier in the week, the stock market had opened negative while there was a positive swing on Tuesday. Consequently, the All-Share Index sheds 37.94 basis points, representing a decline of 0.09 per cent to close at 41,975.45 points.
Then, market capitalisation lost ₦19.80 billion to close at ₦21.91 trillion while year to date returns sloped downward. Following a similar pattern, the market activities traded bearishly with transaction value and volume dropping off.
Market data shows that total volume and value traded mid-week declined by 8.16 per cent and 37.16 per cent, respectively. A total of 292.94 million units valued at ₦2.06 billion were transacted in 4,899 deals.
FBNH topped the traded stocks in terms of volume, accounting for 20.01 per cent of the total volume of trades, followed by MULTIVERSE (10.95%), MBENEFIT (7.36%), SPERLNBANK (6.31%), and TRANSCORP (5.45%) to complete the top five on the volume chart.
FBNH appeared as the most traded stock in value terms, with 29.84 per cent of the total value of trades on the exchange.
On the profitability table, MULTIVERSE and UNIVINSURE led in the gainers’ chart as their share prices appreciated by 10.00 per cent each, trailed HONYFLOUR (9.78%), FBNH (6.00%), OANDO (2.89%), FCMB (1.33%), UCAP (0.56%) and 6 others.
Conversely, 20 stocks declined in price led by LASACO with price depreciation of 9.40 per cent to close at ₦1.06, as CHAMS (-8.33%), ETERNA (-6.16%), NGXGROUP (-3.00%), WAPCO (-2.61%), UBA (-2.35%), ZENITHBANK (-2.00%), GTCO (-1.06%), and ETI (-0.61%), also dipped in price.
Today, the market breadth closed largely negative, recording 13 gainers and 20 losers. Analysts at Atlass Portfolios Limited hinted that OKOMUOIL was reclassified to High-Priced Stock Group from Medium-Priced Stock Group based on the NGX’s pricing methodology.
The stock’s price appreciated above the ₦100 price level on June 8, 2021, and traded above ₦100 until October 22, 2021, indicating that the stock price has traded above ₦100 in at least 4 of the last 6-months. # Investors Lost N19.80 Billion as Local Bourse Relapsed
Read Also: Yield on T-Bills Declines as Investors Go Short
The post Investors Lost N19.80 Billion as Local Bourse Relapsed appeared first on MarketForces Africa.
source https://dmarketforces.com/investors-lost-n19-80-billion-as-local-bourse-relapsed/