Investors lose N139.34bn as NGX resumes after Christmas break

The Nigerian stock market resumed trading on Wednesday after the Christmas holidays with a loss of N139.34 billion due to profit taking.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation both declined by 0.34%, moving down from preceding day’s 74,023.27 points and N40.507 trillion respectively to 73,768.64 points and N40.367 trillion.

The NGX ASI year-to-date return was at 43.94% while the total volume traded advanced by 2.27% to close at N432.91m, valued at N12.94bn and traded in 8,901 deals.

JAIZBank was the most traded stock by volume with N35.38m, while GEREGU was the most traded stock by value with N6.06bn units traded.

At the close of trading, the market recorded 38 gainers, 21 losers, and 61 unchanged.

Top 3 gainers were Eterna (10.00%), AXA Mansard Insurance (9.96%) and Multiverse Mining and Exploration (9.95%) while the top 3 losers were UAC of Nigeria (-10.00%), Deap Capital Management & Trust (-7.25%), and Calverton Offshore Support Group (-6.59%).

“We expect mixed sentiment at tomorrow’s trading session with mild profit taking activities,” noted analysts from Parthian Securities Limited.