Investors Lose N4.75 Billion As NGX Equity Market Closes In Red

Despite FCMB's (+2.86%) outstanding market share growth of over NGN3 billion, trading in the Nigerian stock exchange still ended in the red zone following some profit-taking in MTNN (-0.49%) and GTCO (-1.11%) shares.

Thus, the all-share index fell by -0.02% to close at 47,428.67 basis points, down by 8.81 basis points from the previous session's close of 47,240.09 basis points.

The ASI index fell short of the 52-week high position all-share index of 47,482.73 basis points (the highest resistance point) by 54.06 bps.

The Month-to-Date (M-t-D) and Year-to-Date (Y-t-D) indices stayed positive by +0.07% and +11.03%, respectively, while the Week-to-Date (W-t-D) index declined by -0.02%.

Fortunately, the volume of trade grew by 11.00% to close at 1.28 billion units traded in 4,735 transactions, compared to the previous session's figure of 1.15 million units traded, while the value of shares also grew by 12.66% to close at NGN7.92 billion, compared to the previous session's figure of NGN7.03 billion traded.

As a result, the equity market lost NGN4.75 billion after it closed at NGN25,561.47 trillion instead of NGN25,566.22 trillion.

FCMB, was the most dominant stock by volume and value, with 1.02 billion units valued at NGN3.8 billion traded.

MTNN, with a share value of NGN1.195 billion, and FIDELITYBNK, with a volume trade of 38.14 million units, were some of the notable mentions.

As measured by market breadth, the mood in the market was negative as 22 stocks lost relative to 19 stocks that gained.

The most gains were made by RTBRISCOE (+9.59%), which closed trading at NGN0.80/unit,  ETI (+7.27%), which closed trading at NGN11.80/unit, PRESTIGE (+6.52%), which closed trading at NGN0.49/unit, and NIGERIANS (+4.55%), which closed trading at NGN0.23/unit, while CWG (-10.00%), which closed trading at NGN0.99/unit, ETERNA (-10.00%), which closed trading at NGN5.04/unit, ROYALEX (-9.92%), which closed trading at NGN1.09/unit, and VERITASKAP (-8.70%), which closed trading at NGN0.21/unit, registered the most losses.