NGX: Investors lose N190bn as bearish trend continues

The negative sentiment continued in the local bourse yesterday as the All-share index dipped by 0.32% to settle at 104,181.32 points.

As a result, the year-to-date (YTD) return fell to 39.33%, while the market capitalization shed N190.45bn to close at N58.91trn.

The week had earlier opened on a bearish note on Tuesday, the first working day of the week after the Easter holidays.

The ASI had reached 104,518.14 points on Tuesday compared to the previous session’s 104,562.06 points.

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But it dropped further yesterday amidst selloffs of GTCO (-1.23%), ZENITHBANK (-1.23%) and FBNH (-5.02%) which outweighed gains made by DANGSUGAR (+1.35%), FLOURMILL (+0.64%) and JBERGER (+0.08%).

Analysis of yesterday’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 39.04%. A total of 405.03m shares valued at N8.91bn were exchanged in 10,364 deals. ACCESSCORP (-4.20%) led the volume chart with 50.00m units traded while ZENITHBANK (-1.23%) led the value chart in deals worth N1.86bn.

Market breadth closed negative at a 0.63-to-1 ratio with declining issues outnumbering the advancing ones. INTENEGINS (-10.00%) topped thirty-one (31) others on the laggard’s table while UPL (+9.84%) led nineteen (19) others on the leader’s log.