Investors lose N132bn as Bear dominates NSE’s trading

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Investors lose N132bn as Bear dominates NSE’s trading
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The benchmark index of The Nigerian Stock Exchange (NSE) Thursday dipped 0.63 percent, representing shares depreciation of N132.42 billion.

Specifically, the All-Share Index declined by 253.13 absolute points, representing a loss of 0.63 percent to close at 40,212.19 points while the overall market capitalization value lost N132.42 billion, representing a decline of 0.63 percent to close at N21.04 trillion.

Trading on the domestic stock market today (Thursday) closed on a negative note, extending the negative trend to the third successive trading sessions, as ASI dipped further by 0.63 percent and Its Year-Till-Date Returns currently reaches the negative mark (-0.15%) for the first time in five months. The downturn was buoyed by value depreciation in some bellwether stocks like MTNN, ACCESS and thirteen others.

The market breadth closed largely negative, recording 10 gainers as against 30 losers.
RTBRISCOE emerged top gainer with a price appreciation of 10.00 percent, while UPL emerged as top losers’ (by percentage points) for the day, with the price depreciation of 9.09 percent.
Trading results shows that market loss was driven by price depreciation in large and medium capitalized stocks such as Japaul Gold (-5.56%), UBA (-4.76%), Flourmill (-4.67%), AIICO (-4.65%), Fidelity Bank (-4.08%), Zenith Bank (-3.60%), Wema Bank (-2.90%), Dangote Sugar (-2.89%), Oando (-2.60%), Access Bank (-2.41%), Guaranty Trust Bank (-1.94%), WAPCO (1.73%), Sterling Bank (-1.61%), Honeywell (-1.46%), and MTNN (-0.94%).

Nigerian stocks ended the fourth trading session of the week on a negative note amid soaring oil prices prevailing at the U.S trading session.

Across coverage sectors, the performance was mostly negative as all tracked indices closed in the red. The NSE banking, insurance, consumer goods, energy and industrials lagged by 2.60 percent, 1.54 percent, 0.51 percent, 0.20 percent and 0.13 percent respectively

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