Bears persist at NGX as investors book profits on their investments

At the Nigerian Exchange Limited (NGX) on Tuesday, equity trading maintained yesterday’s sentiment, leaving the benchmark down 0.19%.

Profit-taking activity on flagship stocks, particularly Seplat and Guaranty Trust Holding Company, weighed on the stock market, plunging the All Share Index (ASI) by 0.19% to settle at 47,340.86 basis points.

Thus, the monthly (MtD) and annual (YtD) performance of the ASI will stand at -0.011% and 10.83% respectively.

Investors therefore lost 47 billion naira of their net worth, with the market capitalization standing at 25.514 trillion naira, registering a decline of 0.18% from the previous close of 25.561 trillion naira.

The bears maintained their dominance over the market breadth, as 22 counters in the losers’ board were pitted against 15 counters in the winners’ board.

The top gainer chart was populated during the session by Veritas Kapital, Chams, Eternal Oil, Unilever and Royal Exchange as the best performing stocks. At the back of the table, Cornerstone Insurance has lost the most weight to lead the laggards table as it is flanked by Multiverse, SCOA, Prestige Insurance and FTN Cocoa to complete the top losers table.


All sector indices closed in the same direction with the ASI except for NGX Consumer Goods and NGX Industry which gained 0.17% and 0.01% respectively, while NGX Growth and NGX ASEM closed flat.

Market activity for the day was unimpressive as both trading volume and value lost weight during the session, with daily volume traded down to 183.256 million units. by 85.69% compared to a volume of 1.280 billion units traded during the previous session.

The value of shares traded increased by 12.66% during the session to 2.475 billion naira from a value of 7.919 billion naira recorded in the previous trading session.

United Bank for Africa topped the volume charts as the top traded stock by volume for the trading session, followed by Access Bank, FBN Holdings, UACN and Zenith Bank to complete the list of top five most traded stocks by volume.

Regarding the value of shares traded, Seplat also took the lead in the top five performers, flanked by Zenith Bank, Nigeria Breweries, Guaranty Trust Holding Company and finally United Bank for Africa.

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Bears persist at NGX as investors book profits on their investments