Finance

Equities investors lose N61bn in bearish trading 

Equities Investors

Equities trading at the Nigerian Exchange (NGX) Limited yesterday closed bearish, hence, lowering values by N61 billion.

This is due to weak investors’ appetite for Nigerian Breweries and 13 other stocks.

The All Share Index (ASI) decreased by 113.48 absolute points, representing a dip of 0.24 per cent to close at 47,322.97 points. Similarly, the market capitalisation lost N61 billion  to close at N25.776 trillion.

The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are; Nigerian Breweries, Stanbic IBTC Holdings, Ecobank Transnational Incorporated (ETI), Union Bank of Nigeria (UBN) and Zenith Bank.

Read:  United Capital reports N7.73bn profit in nine months

Market breadth closed slightly negative, with 13 gainers versus 14 losers. Chams  recorded the highest price gain of 9.09 per cent to close at 24 kobo, per share. Wapic Insurance  followed with a gain 6.06 per cent to close at 35 kobo, while NPF Microfinance Bank rose 5.33 per cent to close at N1.58, per share.

Jaiz Bank went up by 3.66 per cent to close at 85 kobo, while FCMB Group appreciated by 3.08 per cent to close at N3.35, per share.

Read:  Wema Bank’s ALAT hits 1m accounts in one day

On the other hand, Neimeth Pharmaceutical led the losers’ chart by 7.97 per cent to close at N1.27, per share, per share. Nigerian Breweries followed with a decline of 7.66 per cent each to close at N45.20, while Caverton Offshore Support Group lost 5.68 per cent to close at 83 kobo, per share.

ETI lost 5.16 per cent to close at N10.10, while Union Bank of Nigeria (UBN) shed 4.58 per cent to close at N6.25, per share.

The total volume traded decreased by 56.69 per cent to 120.947 million units, valued at N1.648 billion, and exchanged in 3,022 deals. Transactions in the shares of Transnational Corporation of Nigeria (Transcorp) topped the activity chart with 34.590 million shares valued at N40.478 million. Access Holdings followed with 11.170 million shares worth N94.915 billion, while Zenith Bank  traded 9.331 million shares valued at N202.528 million.

Read:  Banks begin deduction of loans from chronic debtors’ accounts

FBN Holdings (FBNH) traded 8.732 million shares valued at N96.616 million, while Guaranty Trust Holding Company (GTCO) transacted 8.492 million shares worth N169.380 million.

Leadership

Related posts

BSG announces appointment of Rocha as Chairman

NigGal

Investors gain N643bn in one day as stocks jump

NigGal

Onyema transitions into new role after completing 10-year tenure as NSE’s CEO

NigGal

New fintechs raise $74m in Nigeria

NigGal

MTN Nigeria issues N100bn Commercial Papers.

NigGal

Nigeria Treasury Bills and Bonds Auction Results Year 2021

NigGal

Leave a Comment