Bears hold sway as investors lose N22.9bn

The Nigeria Stock Exchange All Share Index fell by 0.10 per cent to close at 42,000.01 points for the third trading session of the week amid sustained profit-taking activity.

Investors traded at a loss of N22.9bn as the market capitalisation declined to N21,970.67tn at the end of Wednesday trading.

While the year-to-date gain of the NSE ASI also declined to 4.2 per cent, the domestic bourse recorded 27 losers against 19 gainers.

Specifically, investors continue to book profit on bellwethers such as Lafarge Africa Plc, Guaranty Trust Bank Plc, and Flour Mills of Nigeria Plc. Hence their respective share prices lowered by 1.61 per cent, 2.07 per cent and 3.03 per cent.

The sectoral performance was bearish across all the sub-indices tracked, as the banking, insurance, consumer goods, oil and gas, and industrial indices closed in the red.

The market’s activity was mixed as total deals and volume of stocks traded moderated by 17.20 per cent and 9.21 per cent to 5,887 deals and 0.50 billion units, respectively.

However, the value of stocks traded rose to N5.3bn.

Ehime Alex
Ehime Alex
Ehime Alex reports the Capital Market, Energy, and ICT. He is a skilled webmaster and digital media enthusiast.

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