Investors Lose NGN237.89billion As NGX ASI Declines By -1.08%

The NGX equity market suffered its biggest single-day loss as investors lost a whopping NGN237.89billion as the ASI declined by 1.08% to close at 41,807.10 basis point.

Consequently, the ASI approached the 52-week low of 34,250.74 basis points (the lowest support point) by 7,556.36 basis points.

The Year-to-Date (Y-t-D) stayed positive at +3.82%.

However, the equity market turnover increased by exactly 61.08% to 180.18 million units, as against its previous session position of 111.8 million units traded. The shares traded were worth NGN1.48 billion and exchanged in 3,828 deals as against NGN0.9 billion traded in the previous session.

Apparently, the all-share-index dip caused investors to lose NGN237.89 billion as the market cap. closed at NGN21,822.19 trillion as against its previous session figure of NGN22, 060.08 trillion.

JAIZBANK, UBN, UACN, TRANSCORP, and SOVRENINS were the most active stocks driving market capitalization for the day.

Finally, as measured by market breadth, market sentiment was negative, as 16 companies’ stocks lost relative to 15 companies’ stocks that gained.

The gainers’ chart was dominated by UBN (+9.91%), ROYALEX (+9.09%), SOVRENINS (+7.69%), while BUACEMENT (-10.00%), MAYBAKER (-9.98%), and PZ (-8.96%) sustained the most losses.