Investors Lose N33bn, Banking, Industrial Stocks Decline

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Stock investors in the Nigerian Exchange Limited recorded a loss of N33.36bn at the end of trading on Thursday as banking and industrial stocks suffered declines.

The NGX All-Share Index dropped by 0.15 per cent to 43,285.97 basis points from 43,349.90bps on Wednesday, while the market capitalisation fell to N22.59tn from N22.62tn.

Investor activity on the floor of the NGX reduced to 210.55 million shares valued at N2.61bn that were exchanged in 3,423 deals from 264.79 million units valued at N6.08bn in 4,230 deals on Wednesday.

Analysing by sectors, the NGX Banking and Industrial Goods indices depreciated by 0.19 per cent each, while the NGX Oil and Gas Index dropped by 0.12 per cent.

The NGX Insurance and Consumer Goods indices closed higher by 0.59 per cent and 0.14 per cent respectively.

Sterling Bank Plc was the most traded stock by volume as it accounted for 28.6 per cent of the total volume of shares traded on Thursday.

Airtel Africa Plc surpassed other stocks in terms of value, accounting for 25.71 per cent of the total value of shares traded at the end of the session.

The market sentiment, as measured by market breadth, was negative as 12 tickers gained compared to 23 losers.

The top gainers at the end of trading on the floor of the NGX on Thursday were E-Tranzact International Plc and Vitafoam Nigeria Plc as they both rose by 10 per cent to close at N2.09 per share and N20.9 per share respectively.

Academy Press Plc, Jaiz Bank Plc and Axa Mansard Insurance Plc were the other top gainers on Thursday.

Atop the losers’ chart was Chams Plc as its share price fell by 8.7 per cent to N0.21 per share.

It was followed by Regency Alliance Insurance Plc with a 7.5 per cent drop to N0.37 per share.

Other major losers were Unity Bank Plc, FBN Holdings Plc and Associated Bus Company Plc.
– Punch

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