Investors lose N127.1bn Thursday on NGX

Investors on equities on the Nigerian Exchange Limited (NGX) on Thursday recorded a loss of N127.1 billion in the day trading transaction, halting the bullish streak of the better part of the week.

The market All-Share Index declined by 0.5 per cent to 44,625.18 basis points, leaving the Month-to-Date loss increased to -9.0 per cent, while the Year-to-Date gain moderated to +4.5 per cent.

Equities investors, therefore, lost N127.06 billion from their investment as the market capitalization closed at N24.31 trillion.

Wapic Insurance, Airtel Africa, Geregu and Guaranty Trust Holding Company (GTCO) declined by 8.33 per cent, 2.83 per cent, 1.72 per cent, and 1.10 per cent, respectively as they served as major contributors to the day declined performance.

Going by market breadth, market sentiment was positive as 11 stocks recorded gains as against nine losers.

On the performance chart, Regal Insurance and Sovereign Insurance recorded the most significant gains of the day after their respective share prices rose by 8.7 per cent and 8.0 per cent, while Pharmadeko and Linkage Assurance topped the losers’ list as their share prices depreciated by 9.8 per cent and 9.3 per cent, respectively.

Sectorial performance shows that the NGX Banking Index and the NGX Consumer Goods Index rose by 1.11 per cent and 0.01 per cent, respectively, while the NGX Oil/Gas Index and the NGX Industrial Index closed flat. The NGX Insurance index declined by 0.98 per cent.

The Market’s total deals and value decreased by 5.93 per cent and 54.07 per cent, respectively, to 2,998 trades and N1.55 billion.

In terms of volume, Mutual Benefits was the most active stock, with 47.85 million shares worth N13.41 million changing hands in 11 deals, while Airtel Africa led the value chart in deals worth N573.53 million.