Trading Value Falls 68% as Bearish Sentiments Persist


    Trading at the Nigerian equities market hit a low ebb Wednesday as investors staked only N730 million on 114 million shares, showing a decline of 67.5 per cent, compared with the N2.245 billion invested in 248 million the previous day. Also, the year-to-date decline of the benchmark index worsened to 5.1 per cent on persistent bear run.

    Specifically, the Nigerian Stock Exchange (NSE) All-Share Index fell 0.09 per cent to close lower at 36,299.82, thereby bringing the YTD to 5.1 per cent, the lowest level since October 2017. Also, market capitalisation shed N12.4 billion to be at N13.2trillion.

    Although 16 stocks shed value compared with 19 others that went up, depreciation recorded by highly capitalised counters such as Oando, GTBank, Total Nigeria, United Bank for Africa Plc and Sterling Bank Plc led to the lower close.

    However, Mutual Benefits Assurance Plc led the price losers with 9.6 per cent, trailed by NSL Technology Plc with 9.0 per cent. Union Diagnostic shed 7.6 per cent, just as Cutix Plc and Oando Plc went down by 5.8 per cent and 4.3 per cent in that order.

    On the other hand, Unity Bank Plc led the bulls with 9.3 per cent followed by Sovereign Trust Insurance Plc with 8.7 per cent. Neimeth International Pharmaceuticals Plc, Red Star Express Plc and UACN Property Development Company Plc added 8.4 per cent, 6.5 per cent and 5.8 per cent respectively.