Equities Market Relapses, Slipping by 0.15% as Investors Lose N84.58bn

The equities market of the Nigerian Exchange (NGX) on Thursday relapsed from the previous trading session gains as the market sheds 0.15 per cent, while equities investors lose a whopping N84.58 billion.

Particularly, the All-Share Index (ASI) lost 15bps to close at 99,134.85 points putting the index on track for a negative week. Also, market capitalization lost N84.58 billion to close at N56.08 trillion.

Selloffs in STANBIC ), TRANSCORP, and FIDELITYBK offset the gains in ZENITHBANK, FBNH and UBA leaving the index in the red.

Consequently, the year-to-date (YTD) return slipped to 32.58 per cent, with regards to market analysis, turnover, which settled higher relative to the previous session with the value of transactions up by 10.74 per cent.

A total of 309.81m shares valued at N5.39 billion were exchanged in 6,765 deals. FIDELITYBK led the volume chart with 49.20 million units traded, while GUINNESS led the value chart in deals worth N975.58 million.

Predictably, market breadth closed negative at a 0.94-to-1 ratio with declining issues outnumbering the advancing ones. MAYBAKER topped 17 others on the laggard’s table while OANDO led 16 others on the leader’s log.