Bears overpowered the bulls in the struggle for Nigeria’s equities market’s control on Thursday, causing investors a loss of N32 billion at the close of the trading session.
The bulls had on Wednesday dominated the market and secured a gain of N32 billion for the investors following impressive performance of a few blue chip stocks.
As expected, following the bears’ control of the local bourse on Thursday, the All Share Index (ASI) dipped by 0.12% to close at 48,365.14 points even as the market capitalization depreciated by N33 billion.
At the close of trading session, the stock market value stood at N26.3 trillion, representing a year-to-date gain of 5648.7 basis points or 13.22%.
Available data on the market’s trading session in the day under review indicated that the total volume traded stocks stood 146.157 million, valued at N2.98 billion in 3,391deals.
The gainers were CHAMS, up +9.09% to close at N0.24; RTBRISCOE, up +7.69% to close at N 0.28; PZ up + 5.50% to close at N11.50; LIVESTOCK, which gained +4.50% to close at N1.16; and ETI, which gained +2.86% to close at N10.80
On the flip side of the NGX trading breadth indicated that the top losers were CAPHOTEL, which depreciated by – 9.80% to close at N2.76; HONYFLOUR, down – 9.09% to close at N2.20; WAPIC, which dipped by – 8.11% to close at N0.34; ABCTRANS down – 7.41% to close at N0.25; and CADBURY, which dropped by – 4.46% to close at N10.70
According to the data, the top 3 traded stocks by volume were ETI – 26,356,801; FBNH – 25,797,316; and TRANSCORP – 12,887,399 while the top 3 traded stocks by value were MTNN – N1,190,295,939; GUINNESS – N350,374,865; and ETI- N281,873,014.
