Stock Market Sustains Bearish Trend as Equities Investors Lose N56.35bn
NGX
Samuel Mobolaji
Statistics from the Nigerian Exchange Limited (NGX), which was obtained after yesterday trading session, showed that the market’s weak performance was driven by losses in FBNH (-2.31%), ACCESSCORP (-1.29%) and TRANSCORP (-0.46%) despite gains GTCO (+0.11%), ZENITHBANK (+2.30%) and UBA (+2.51%).
Consequently, the market is on track for a weekly decline. The All Share Index (ASI) year-to-date (YTD) return fell to 29.86 per cent.
A breakdown of the analysis of yesterday’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 35.71 per cent.
A total of 271.26 million shares valued at N3.52billion were exchanged in 7,233 deals. VERITASKAP (-6.92%) led the volume chart with 33.38 million units traded, while GTCO (+0.11%) led the value chart in deals worth N725.23million.
Market breadth closed negative at a 0.45-to-1 ratio with declining issues outnumbering advancing ones.
For the third session this week, OANDO (-9.94%) led thirty (30) others on the laggard’s log while NEIMETH (+9.55%) topped thirteen (13) others on the leader’s table.
About The Author
