Nigerian investors lose N122.43bn as bears return

The Nigerian Stock Exchange All-Share Index moderated by 0.59 per cent to 39,697.62 points amid renewed bearish activity to reverse previous day’s gain.

While the market recorded 26 losers and 17 gainers, the market capitalisation dropped by 0.59 per cent to close at N20.77tn.

Thus, investors lost N122.43bn, while the Year-to-Date loss of the ASI rose to -1.42 per cent.

Notably, sentiment was negative at the market as investors dumped part of their holdings in medium and heavy weight stocks such as Nestle Nigeria, Lafarge Africa, Zenith Bank, Oando and Flour Mills.

Hence, their respective share prices declined by 6.90 per cent, 7.08 per cent, 0.58 per cent, 4.69 per cent and 6.41 per cent respectively.

Similarly, all the sub-indices tracked closed in the red zone except for insurance, which rose by 0.21 per cent.

The banking, consumer goods, oil and gas and industrial indices fell by 0.12 per cent, 3.86 per cent, 0.88 per cent and 0.41 per cent respectively.

Trading activity was mixed as total deals and volume of stocks traded dipped, while the value of stocks traded rose.

At the close of Tuesday’s session, the total volume of stocks declined by 59.08 per cent to 222.57 million units, valued at N5.39bn in 4,470 deals.

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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