Investors lose N33bn, banking, industrial stocks decline in Nigeran exchange limited

Stock investors on the Nigerian Exchange Limited suffered a loss of N33.36bn at the end of Thursday’s trading session. As a result, the All-Share Index of the NGX fell 0.15 percent to 43,285.97 basis points from 43,349.90bps on Wednesday, while market capitalization dropped to N22.59 trillion from N22.62 trillion.

There were 3,423 deals on the floor of the NGX on Wednesday, down from 4,230 transactions on Wednesday when 264.79 million shares worth N6.08bn were exchanged. Sector-wise, the NGX Banking, and Industrial Goods indices each declined by 0.19 percent, while the NGX Oil and Gas Index declined by 0.12 per cent. The NGX Insurance and Consumer Goods indices both closed up 0.59 percent and 0.14 percent, respectively. On Thursday, Sterling Bank Plc was the most traded stock by volume, accounting for 28.6% of the total volume of shares traded.

At the end of the session, Airtel Africa Plc was by far the most valuable stock, accounting for 25.71 per cent of the total value of securities traded. The market sentiment, as measured by market breadth, was negative as 12 tickers gained compared to 23 losers. Both E-Tranzact International Plc and Vitafoam Nigeria Plc rallied by 10 percent at the end of Thursday’s trading on the floor of NGX to close at N2.09 per share and N20.9 per share respectively.

Another top gainer on Thursday was Academy Press Plc. Other top gainers included Jaiz Bank Plc and Axa Mansard Insurance Plc. Chams Plc was the top loser on the losers’ list as its share price decreased by 8.7 percent to N0.21 per share. The next company to drop was Regency Alliance Insurance Plc with a 7.5 percent drop to N0.37 per share. The other major losers were Unity Bank Plc, FBN Holdings Plc, and Associated Bus Company Plc.

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