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NGX: Investors Record N30bn Loss In One Day Trading

 

NGX: Investors Record N30bn Loss In One Day Trading
Nigeria Stock market
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Stock investors lost massively on Monday, September 5, 2022, after trading 200.92 million shares valued at N1.45bn in eight hours.

Naija News understands that 3,976 deals were exchanged yesterday at the Nigerian Exchange Limited (NGX) equities market.

However, there was a decline of N30bn at the end of trading on Monday as 18 firms saw their share prices fall.

The NGX All-Share Index closed at 49,991.41 basis points on Monday from 50,045.83 on Friday, while the market capitalisation fell to N26.964tn from N26.994tn.

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The trading report for the day showed that twelve companies recorded share price appreciation while 18 firms’ share prices declined.

Naija News understands that activities in the domestic equities market resumed this week on a negative record for the investors.

The investors took profits off WAPCO (-4.2 per cent), Zenith Bank (-2.3 per cent), and Stanbic (-3.0 per cent).

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According to analysts at Cordros Securities; “Thus, the AllShare Index settled lower by 0.1 per cent at 49,991.41 points. Accordingly, the Month-to-Date and Year-to-Date return settled at +0.3 per cent and +17.0 per cent, respectively.

“The total volume traded declined by 16.3 per cent to 200.92 million units, valued at NGN1.45 billion, and exchanged in 3,976 deals. Sterling Bank was the most traded stock by volume at 90.90 million units, while MTNN was the most traded stock by value at N252.47m.”