Investors lose N62bn as stock index dips by -0.47%

Investors at the Nigerian stock market went home on Wednesday with a collective loss of N62 billion as the All Share Index (ASI) nosedived by -0.47 per cent.

This led to erosion of more than N44 billion profit they recouped in the previous session and consequently, the ASI closed lower at 25,215.04 basis points while market capitalisation followed suit to end the day lower at N13.154 trillion.

The negative session was occasioned specifically by profit-taking activities on the shares of heavyweights such as BUACEMENT which dipped by -3.9 per cent.

The total volume of trades decreased by 0.8 per cent to 266.65 million units, valued at N3.18 billion and exchanged in 3,978 deals, prominently driven by GUARANTY which was the most traded stock by volume and value at 69.41 million units valued at N1.68 billion.

On sectors, the Industrial Goods, consumer goods and banking indices recorded negative returns at -2.5 oer cent, -0.3 per cent and -0.1 per cent respectively, while 1.4 per cent and 0.2 per cent appreciations were posted by  insurance and oil and gas sectors respectively.

Market sentiment, as measured by market breadth, was negative following emergence of 19 declining stocks relative to 18 gainers.

In order of appearance, CILEASING shedding -9.4 per cent, and UACN with -9.1 per cent crash in share price were the top losers of the day, while PRESTIGE and BERGER each advanced by 10 per cent to lead other gainers on the chat.