NGX Extends Losing Streak By N19bn Amid Low Turnover

The equities market of the Nigerian Exchange Limited (NGX) on Thursday extended its losing streak by N19 billion at the close of the session.

At the close of yesterday’s trading session, Market Capitalization stood at Market Capitalization at N26.721trillion, representing a 0.07 per cent drop from the N26.740trillion it stood at the end of the previous trading session as investors’ net worth waned.

Also, the All-Share-Index (ASI) shed 7bps to drag the index to 49,540.48bps as against its previous close of 49,576.05bps.

This outing pegs both the month-to-date and year-to-date performance of the ASI at -0.59 per cent and 15.98 per cent from their previous close of -0.52 per cent and 16.06 per cent respectively.

Bears’ camp took dominance over the market breadth with 17 counters in the losers’ chart pitted against 8 counters in the gainers’ chart. SOVRENINS gained 3.85 per cent to become the best-performing stock in the session.

It is flanked by CADBURY, COURTVILLE, ZENITHBANK, and UBA as they populated the top five gainers’ chart. From the rear of the chart UACN, VITAFOAM, UPDCREIT, UPDC, and CHIPLC populated the top five losers’ chart.

All sectoral indices closed in the same direction as the ASI, save NGX LOTUSISLM which marginally gained weight, while NGX INDUSTR, NGXGROWTH, and NGX ASEM sectors close flat.

Consequently, market activity as measured by both volume and value of trades waned in the session, with daily traded volume standing at 167.608million units, representing a 15.12 per cent downtick from a volume of 197.458mn units traded in the previous session.

The value of those traded stocks dipped by 57.03 per cent in the session to stand at N1.265billion as against a value of N2.943billion recorded in the previous trading session.

COURTVILLE as the top traded stock by volume for the trading session, followed by ACCESSCORP, FIDELITYBK, TRANSCORP, and CHIPLC to complete the list of the five most traded stocks by volume.

With regard to the value of the traded stocks, ACCESSCORP took the lead of the top five performers. It is flanked by SEPLAT, ZENITHBANK, GTCO, and lastly VITAFOAM.