Sunday, May 19, 2024

Stock Market Sustains loss as Waning Sentiment Continues on NGX

The waning sentiment observed in the Nigerian stock market this week continued on Thursday.

As a result, the stock market decreased further by 0.12percent while investors maintained cautious approach to the market.

At the close of trading session on Thursday, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) and its equities Market Capitalisation – decreased further from 56,025.56 points and N30.506trillion respectively to 55,956.59 points and N30.468trillion.

Investors lost about N38billion at the close of trading session on Thursday. The market’s positive return year-to-date (YtD) printed lower at +9.18 percent.

John Holt led the league of laggards after its share price decreased from preceding day high of N1.55 to N1.40, losing 15kobo or 9.68 percent.

Also, Caverton Offshore Support Group decreased from a high of N1.40 to N1.30, losing 10kobo or 7.14 percent.

Coronation Insurance made the top laggards list after its share price moved down from preceding day high of 46kobo to 43kobo, losing 3kobo or 6.52 percent.

GSK was also down from a high of N7.55 to N7.15, shedding 40kobo or 5.30percent, while Stanbic IBTC decreased from N46.40 to N45, losing N1.40 or 3.02percent.

UBA, NPF Microfinance Bank, Access Corporation, Zenith Bank and Dangote Sugar Refinery were top-5 traded stocks as investors in
6,061 deals exchanged 531,784,757 shares valued at N7.682billion.

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