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NGX: Bearish sentiments continue as investors lose N167bn



Bearish sentiment continued on the floor of the Nigerian Xchange as the equities market suffered third consecutive day of losses as investors shed N167bn.

This is even as the NGX-All-Share Index ASI decreased to 104,256.81 from 104,553.31 recorded at the close of the previous trading day on the bourse.

Similarly, the market capitalization decreased today by N167.65 billion to N58.948 trillion from N59.116 trillion recorded at the close of the previous trading day.

The market breadth was positive as 29 stocks advanced, 23 stocks declined, while 67 stocks remained unchanged in 8,248 deals.

Computer Warehouse Group (CWG) and NEM Insurance Plc led other gainers with 10% growth each to close at N6.05 and N8.80 from their previous price of N5.50 and N8.00 respectively.

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Juli, International Energy Insurance, and Thomas Wyatt Plc are amongst other gainers that also grew their share prices by 9.98%, 9.85%, and 9.55% respectively.

Secure Electronics Technology Plc led other price decliners as it shed 10% off its share price to close at N0.54, from its previous closing price of N0.60. Vitafoam Nigeria, Julius Berger Nigeria, and Royal Exchange Plc are amongst other losers that also shed their share prices by 9.88%, 9.80%, and 9.76% respectively.

On the volume index, First Bank of Nigeria Holding (FBNH) Plc traded 38.760 million units of its shares in 730 deals, valued at N1.561 billion followed by United Bank for Africa (UBA) Plc which traded 29.083 million units of its shares in 452 deals, valued at N762 million and Transcorp Plc which traded 26.297 million units of its shares in 661 deals, valued at N372 million.

For the second day running, FBNH recorded the highest value for the day trading stocks worth N1.560bn in 730 deals followed by TRANSPOWER which traded equities worth N1.439bn in 312 deals and UBA which traded stocks worth N762m in 452 deals.

By: Babajide Okeowo

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