NGX: Equities investors lose 0.1% as market closes bearish
At the close of trade yesterday, Bearish sentiment which persisted drove the domestic bourse lower caused by losses recorded in Tier-1 bank which are Guaranty Trust Holding Company (-0.40 per cent), First Bank Holdings of Nigeria (FBNH), (-0.43 per cent) and ACCESS CORPORATION (-1.63 per cent) were the major drivers of the market’s overall performance.
The Nigerian Exchange Limited (NGX), All-Share Index (ASI) shed 35.04 basis points or 0.1 per cent lower to settle at 54,189.31 Index points from 54,224.35 Index points it closed trade on Monday.
Absolutely, the year-to-date (YTD) return fell to 5.73 per cent, while the market capitalisation lost N19.09 billion to close at N29.519 trillion from N29.538 trillion it closed for previous trading day.
The downturn performance was impacted by losses recorded in medium and large capitalised stocks which are MRS oil, Triple G and Company, Geregu Power and others.
Analysis of yesterday’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 182.93 per cent.
GEREGU led the volume and value charts with 125.010 million units traded in deals worth N12.502 billion.
At the close of trade yesterday, trade volume increased by 64.4 per cent to close at 254,174,108 million units worth N15.577 billion were exchanged in 2,950 deals.
The market sentiments as measured by market breadth closed negative as MRS Oil led 10 gainers on the leaders chart, while Veritaskap Insurance led 15 losers on the laggards logs.
On the leaders chart, MRS Oil came as the best price gainer with 10.00 per cent to close at N25. 30 per share, Triple G and Company which followed rose significantly by 9.63 per cent increased to close at N2.39 per share, while Living Trust Mortgage Bank grew by 5.16 per cent increased to close at N2.65 per share.
AIICO Insurance which recorded as the last fourth gainer appreciated by 1.69 per cent to close at N0. 60 per share UPDC Real Estate Investment which recorded as the last fifth gainer went up by 1.64 per cent increased to close at N3.10 per share.
On the laggards table, Veritaskap Insurance led the decliners with 4.76 per cent to close at N0.20 per share, Linkages Assurance which followed lost 4.44 per cent to close at N0.43 per share, while International Breweries which recorded as the last third loser shed 4.26 per cent to close at N4.50 per share.
Transnational Corporation which recorded as the last fourth loser dipped by 4.03 per cent to close at N1.19 per share.
Consolidated Hallmark Insurance which recorded as the last fifth loser dropped by 2.99 per cent to close at N0.65 per share.
Transaction in the shares of Geregu Power topped the activities chart with 125.010 million shares worth N12.502 billion, followed by Guaranty Trust Holding Company transacted 31.074 million shares valued at N779.380 million, while Zenith Bank traded 15.036 million shares valued at N375.845 million.
Access Corporation transacted 11.072 million shares worth N100.524 million.
United Bank of Africa traded 7.190 million shares valued at N60.002 million.
