Business
Japaul Gold Gains As Investors Lose N5.17bn In Stock Market
Equities trading at the Nigerian Exchange Limited (NGX) turned bearish to close marginally lower by 0.01 per cent on Wednesday.
The domestic bourse slipped as the All-Share Index (ASI) closed 0.01 per cent weaker to settle at 63,757.23 basis points.
Basically, profit-taking activities in Geregu Power and Access Holdings kept the market in the negative terrain having dipped in share prices by 10.0 per cent and 1.9 per cent, respectively.
Thus, the Month-to-Date (MTD) and Year-to-Date (YTD) returns remained at +4.6 per cent and +24.4 per cent, respectively.
Equities investors, therefore, lose N5.17 billion as the market capitalization closed lower by 0.01 per cent to settle at N34.72 trillion.
As measured by market breadth, market sentiment was negative, as 27 tickers lost relative to 24 gainers. Geregu Power and Prestige
Insurance topped the losers’ list having depreciated by 10.0 per cent, respectively, while Honeywell Flour Mills and Eterna Oil recorded the most significant gains of the day after their respective appreciated by 10 per cent.
However, sectoral performance was positive, as three of the five sub-sector gauges tracked closed in green, with the NGX Insurance, NGX Consumer Goods, and NGX Oil/Gas indices experiencing declines of 0.52 per cent, 0.48 per cent, and 0.62 per cent, respectively, while the NGX Banking and NGX Industrial indexes registered gains of 2.05 per cent and 0.06 per cent, respectively.
Meanwhile, market activity witnessed a mild slowdown, with total deals, volume, and value decreasing by 17.47 per cent, 45.50 per cent and 76.45 per cent, respectively, amounting to 7,403 trades, 473.49 million units, and N10.08 billion in value.
In terms of volume, Japaul Gold emerged as the most actively traded stock, with 77.98 million shares worth N64.59 million changing hands in 355 deals.
(Tribune)
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