New Telegraph

Bears return as stock market loses N7bn

ngx NGX

Bearish sentiment overtook trading activities at the Nigerian stock market on Thursday as the Nigerian Exchange Limited closed on a negative note. The market capitalisation fell by N7 billion to close at N29.920 billion as against N29.93 trillion on Wednesday.

The All-Share Index (ASI) dipped by 0.02 per cent to close at 54,924.08 points as against 54,936.11 points the previous day, while the ASI year-to-date (YTD) rose to 7.17 per cent. The negative change in market performance was drawn from loszes recorded in medium and large capitalised stocks, amongst which are SterlinBank [-3.25%], Acess- Corp [-2.25%], Fidelity Bank [-1.33%], GTCO [-0.20%] and Dangote Sugar [-0.54%]. The total volume traded dropped by 12.15 per cent to 117,850,276 million units, valued at N1.398 billion, and exchanged in 2,575 deals.

As measured by market breadth, market sentiment was negative, as 14 stocks lost relative to 17 gainers. NRC topped the share price losers’ chart with -9.96 per cent to close at N2.61 kobo per share. Linkassure followed with -8.70 per cent to close at N0.46 per cent per share. Mansard shed -7.50 per cent to sell at N2.00 kobo per share. The share price of Royal Exchange fell by 4.17 per cent to trade at N0.72 kobo per share while UPDC depreciated by 4.00 per cent to close at N1.00 kobo per share. GTCO and Wapic Insurance recorded the highest price gain of 2.44 per cent each to close at N25.50 and 42 kobo, while Linkage Assurance followed with 2.22 per cent to close at 46 kobo, per share. On the other hand, the share value of SUNUASSUR was up by 9.09 per cent to close at N0.44 kobo per share. T R A N S C O H O T trailed by 8.32 per cent gain to close at N6.37 kobo per share. Academy made 7.50 per cent gain to close at N1.20 kobo per share. REGALINS appreciated by 7.14 per c3nt to close at N0.28 per share and ABCTRANS was up by 5.71 per cent to close at N0.35 per share.

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