Negative sentiments persist on NGX as index dips by 0.4%

Negative sentiment persisted on the equities sector of the Nigerian Exchange Limited (NGX) as the all-share index (ASI) dipped further by 0.4 per cent.
At the close of transactions yesterday, the ASI depreciated by 0.4 per cent to settle at N103736.08 points from 104,181.32 points reported the previous day.

Market capitalisation of listed equities also declined by N252 billion to close at N58.653 trillion from N58.905 trillion it closed on Wednesday. As a result, the year-to-date (YTD) return fell to 38.73 per cent, while the bourse recorded 23 gainers against 26 losers.
Further breakdown of yesterday’s trading showed that turnover closed higher relative to the previous day with the value of transactions increasing by 75.56 percent.

Volume of trades increased by 82.602 million representing 20.38 per cent as investors traded 487.728 million shares valued at N15.639 billion in 8908 deals against 405.126 million shares cost N8.908 billion exchanged hands the previous day in 10364 deals.

The trading result showed that Morison industry led the gainers chart with 9.84 per cent to close at N2.12 kobo. SCOA followed with a gain of 9.77 per cent to close at N2.36 kobo. International General Insurance gained 9.72 per cent to close at N1.58 kobo, NEM Insurance added 9.50 per cent to close at N9.80 kono. The Initiates Plc also increased by 8.7 per cent to close at N2.50 kobo.

On the contrary, C& I Leasing recorded the highest loss during the day with 9.79 per cent to close at N3.50 kobo. Mutual Benefits trailed with a loss of 8.57 per cent to close at 64 kobo.

Tantalizer was down by 7.89 per cent to close at 35 kobo. Unity Bank dropped 7.39 per cent to closed at N2.13 kobo. Jaiz Bank also dipped by 7.23 per cent to close at N2.18 kobo. Zenith Bank led market activities with 161.683 million shares valued at N7.027 billion.

GTCO Plc followed with account of 54.355 million shares worth N2.729 billion, United Bank for Africa exchanged 47.832 million shares cost N1.299 billion. AccessCorp traded 40.881 million shares worth N950.436 million while Transcorps sold a total of 28.350 million shares worth N387.009 deals.