Bears Triumph At NGX As Equities Investors Lose N7bn

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At the end of equities trading at the Nigerian Exchange Limited (NGX) on Wednesday, activities were mixed, with a bearish tilt as the benchmark index lost 0.02 percent.

Bearish sentiment in MTN Nigeria, Access Holdings, and Geregu overturned the gains, causing a drag in the market. These high capitalised stocks dipped by 0.43 percent, 0.55 percent, and 5.90 percent, respectively.

Thus, the All-Share Index settled at 52,599.65 points. Consequently, the Year-to-Date return moderated to 2.63 percent.

Equities Investors, therefore, lost N7.03 billion from their overall investment as the market capitalisation settled at N28.65 trillion at the end of the day’s trading sessions.

However, as measured by market breadth, market sentiment was positive, as 21 tickers gained relative to 16 losers.

On the performance board, RTBriscoe and Triple Gee topped the gainers’ list, having appreciated in share value by 10 percent, respectively.

At the same time, ThomasWay and Cornerstone Insurance recorded the most significant losses of the day as their respective share prices dipped by 9.7 percent and 6.9 percent.

Analyses by sectors showed that the Insurance and Banking indices declined by 0.7 percent and 0.3 percent, respectively, while the Industrial Goods and Oil & Gas indices closed flat.

The Consumer Goods index was the sole gainer of the day, having appreciated by 0.3 percent.