Bears on rampage: Investors lose N28.33bn

Equities market on Tuesday sustained a downward movement as the Nigerian Stock Exchange All-Share Index further moderated by 0.13 per cent to close at 41,510.16 points amid profit taking on bellwether stocks.

Similarly, the market capitalisation, which opened at N21.74, shed 0.13 per cent to close at N21.72.

Investors, for the second trading day of the week further lost N28.33bn; while, for two weeks running, negative trend continued to prevail on the market.

Although, the Year-to-Date gain of the ASI fell to 3.07 per cent, the domestic bourse recorded 23 gainers and losers apiece.

Meanwhile, selling sentiment dominated Tuesday’s trading as the share prices of heavy capitalised stocks such as Zenith Bank, Access Bank and Lafarge Africa moderated by 0.77 per cent, 1.16 per cent and 0.56 per cent respectively.

Sectoral performance also indicated that all the sub-indices tracked closed in the red.

The NSE banking, insurance, consumer goods, oil and gas and industrial indices dropped by 0.52 per cent, 1.73 per cent, 0.25 per cent, 0.25 per cent and 0.04 per cent respectively.

Basically, activity in the market was mixed.

While total deals and volume of stocks traded declined by 5.37 per cent and 10.10 per cent to 4,969 deals and 0.30 billion units, the value of stocks traded rose by 49.66 per cent to N3.95tn.

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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