NGX Bearish Turn Hits as Investors Lose N1 Billion in Wednesday Trading Session

Investors yesterday at the Nigerian Exchange Limited (NGX) lost N1 Billion as the market was bearish, leading the market capitalisation to N55.87 Trillion. The NGX All-Share Index declined by 0.002% to 102,106.31 points.

Also, the number of trades declined by 17.82% to 9,665 deals after falling for two straight days.

Market breadth, a measure of investors' sentiments, remained negative, revealing that 19 stocks gained while 36 lost.

Top Gainers: Meyer Plc led with a 10% appreciation to close trading at N5.72; Tripple G gained 9.84% to close at N4.13; and Juli Plc's shares appreciated by 9.09% to close at N0.84.

Top Losers: AIICO Plc declined by 9.92% to close at N1.18; Cadbury Nigeria Plc followed with a decline of  9.50% to N21.90; and Guinea Insurance Plc declined by 8.93% to N0.51.

The volume of trade yesterday declined to 341.92 million units from 494.19 million units on Tuesday, and the value of traded units dropped by 15.68% to N6.41bn.

A Quick Look At Tuesday Trading

Tuesday trading finished negatively following the losses of big companies like BUA Cement, Sterling Financial Holding Company, and Co., which caused the Nigerian Exchange to fall. Market capitalisation lost N849 billion to close at N55.87 trillion from N56.72 trillion it finished on Monday.

The NGX All-Share Index lost 1,551.76 points, or 1.50%, to close at 102,108.05. Tuesday's trading session was bearish, with 14 stocks gained and 46 stocks lost.

Amongst the gainers were Juli Plc and Cadbury Plc, which led the chart with a 10% gain each to close at N0.77 and N24.20, respectively. Meyer Plc, Daar Communications, industrial goods company, Cap Plc, finished 9.94%, 9.09%, and 4.58% to close at N5.20, N0.84, and N25.10 per unit.

On the other hand, the top losers chart was led by BUA Cement, and Consolidated Hallmark Holdings led the chart with a 10% decline, followed by Sterling Financial Holding Company at 9.85%, and The Initiates lost by 9.79%.

Guaranty Trust Holding Company Plc and FBN Holdings had 32.95 million and 27.54 million units of their stocks valued at N1.32bn and N27.54m traded in 418 and 385 deals, respectively.