Equities Investors Lose N32.04bn as ASI Dips to 97,774.22
NGX
Samuel Mobolaji
The Nigerian equities market continued its downward spiral for the seventh consecutive session, as investors wealth shrink by N32.04 billion, with the All Share Index (ASI) losing 6 basis points
Specifically, the benchmark stock index closed at 97,774.22 points, resulting in a loss for investors at the end if yesterday’s train session.
Despite gains in GTCO (+0.11 per cent), FBNH (+4.75 per cent), and UBA (+2.53 per cent), selloffs in ZENITHBANK (-2.22 per cent), ACCESSCORP (-0.27 per cent), and TRANSCORP (-1.29 per cent) dragged the market down.
The year-to-date return declined to 30.76 per cent as market capitalization shed N32.04 billion to close at N55.51 trillion.
However, trade turnover surged 188.89 per cent compared to the previous session, with 1.84 billion shares valued at N23.11 billion exchanged in 10,847 deals. FIDELITYBK (+0.95 per cent) led the volume and value charts, with 1.33 billion units traded in deals worth N14.04 billion.
Market breadth closed positive at a 1.04-to-1 ratio, with advancing issues outnumbering declining ones. IMG (+10.00 per cent) topped the gainers’ table, while NAHCO (-10.00 per cent) led the losers’ table.
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