Investors lose N133bn on sustained negative sentiments

The key performance indices of the Nigerian Stock Exchange (NSE) dropped further on Tuesday by 1.06% amid profit-taking in some blue chips stocks.

Consequently, the market capitalisation lost N133 billion to close at N12.349 trillion against N12.482 trillion recorded on Monday.

Also, the All-Share Index, which opened at 23,950.83 shed 254.93 points to close at 23,695.90.

Accordingly, month-to-date (May 1 to date) gain decreased to 2.9%, as year-to-date (January 1 to date) losses increased to -11.7%.

The downtrend was impacted by losses recorded in large and medium capitalised stocks, amongst which are Dangote Cement, MTN Nigeria, BUA Cement, Caverton and Arbico.

Market breadth closed negative, with 14 gainers compared with 15 laggards.

Caverton dominated the losers’ table in percentage terms, declining by 10% to close at N2.43 per share.

Arbico followed with a loss of 9.73% to close at N2.32, while Afromedia dipped 8.82% to close at 31k per share.

Lasaco Assurance decreased by 7.41% to close at 25k, while Wapic Insurance shed 6.67% each to close at 28k per share.

On the other hand, Neimeth recorded the highest price gain to lead the gainers’ pack in percentage terms, gaining 10%, to close at 66k per share.

NPF Microfinance Bank followed with 9.76% to close at N1.35, while Eterna grew by 9.44% to close at N2.55 per share.

McNichols appreciated by 8.70% to close at 50k, while C&I Leasing appreciated by 6.25% to close at N5.10 per share.

Transactions in the shares of FBN Holdings topped the activity chart, accounting for 27.85 million shares valued at N133.59 million.

UACN followed with 16.62 million shares worth N114.71 million, while Guaranty Trust Bank traded 14.97 million shares valued at N314.69 million.

Zenith Bank exchanged 9.17 million shares worth N138.34 million, while Mutual Benefits Assurance transacted 8.05 million shares worth N1.61 million.

In all, the total volume of shares traded declined by 24.85% as investors bought and sold 115.75 million shares, worth N1.68 billion transacted in 4,005 deals.

This was in contrast with a total of 207.25 million shares valued at N1.78 billion exchanged in 4,460 deals on Monday.