NGX: Market extends losing streak, down 2.26%

Nigerian Exchange Ltd. (NGX)

The Nigerian Exchange Ltd. (NGX) on Tuesday extended its losing streak, making the benchmark index down by 2.26 percent.

The News Agency of Nigeria (NAN) reports that the All-Share Index (ASI) dipped 1,139.02 points or 2.26 percent to close at 49,350.71 against 50,489.73 posted on Monday.
Also, the market capitalisation shed N614.35 billion to close at N26.62 trillion compared with N27.23 trillion achieved on Monday.
Consequently, the Year-to-Date return dropped to 15.53 percent.
The downtrend was impacted by losses recorded in large and medium capitalised stocks, amongst which are, Dangote Cement and MTN Nigeria.
Market breadth closed negative, with 16 gainers and 11 losers.
Prestige Insurance and NEM Insurance recorded the highest price in percentage terms, with a gain of 10 percent each to close at 44k and N3.74 per share, respectively.
Ellah Lakes followed with a 9.78 percent to close at N3.93 per share, while Multiverse Mining and Exploration gained 9.75 percent to close at N2.06 per share.
Ikeja Hotel appreciated by 9.28 percent to close at N1.06 per share.
Conversely, Conerstone Insurance led the losers’ chart with a loss of 9.33 percent to close at 68 per share.
Dangote Cement followed with 9.06 per cent to close at N241, while Japaul Gold and Ventures depreciated by 8.11 per cent to close at 34k per share.
Sovereign Trust Insurance dropped 7.41 percent to close at 25k, while Stanbic Bank lost 6.45 percent to close at N29 per share.
Also, the total volume traded closed with an exchange of 140.61 million shares valued at N1.6 billion achieved in 3,895 deals.
Transactions in the shares of Japaul Gold and Ventures topped the activity chart with 3.2 million shares valued at N8.95 million.
AIICO Insurance followed with 14.8 million shares worth N8.84 million, while Sterling Bank traded 14.3 million shares valued at N21.41 million.
Sovereign Trust Insurance sold 10.1 million shares worth N2.58 million, while Guaranty Trust Holding Company (GTCO) accounted for 7.85 million shares worth N160.97 million.