Investors lose N1.8 trillion on the NGX on selloffs in Dangote Cement, MTN Nigeria

The NGX moderated on Monday by a whopping NGN1.8 trillion or -3.15% on Monday as shares of Dangote Cement, MTN Nigeria and Nigerian Breweries led the route.

The local bourse closed negatively partly due to selling pressure in the Industrial, Consumer goods, and Telecoms sectors.

Consequently, the NGX All Share Index dipped -3.15% and settled at 102, 393.23 points. The market breadth index was negative as the NGX posted 18 gainers and 37 losers.

Today’s gainers were led by JULI PLC (+9.52%), while the top loser was DANGCEM (-10%). Other top gainers include DAARCOMM (+8.64%) while other bottom losers include: MTNN (-10%)

GTCO was the most traded stock in terms of volume, accounting for 10.54% of the total volume of trades. The orange brand was followed by TRANSCORP (7.35%), ACCESSCORP (5.81%), FBNH (5.79%), and ZENITH BANK (5.78%) to complete the top 5 on the volume chart,

GEREGU was the most traded stock in value terms, with 23.40% of the total value of trade on the exchange, according to records.

DANGCEM and MTNN were the top losers, with a price depreciation of -10.00% each. Also, on the loser chart are: NGXGROUP (-9.76%), NB (-9.08%), ETERNA (-7.43%), UNITYBNK (-5.14%), and DANGSUGAR (-3.16%).

All the five major market sectors closed in the red. The Industrial sector dropped by -6.02%, followed by the Insurance sector which lost 2.49% and the Consumer goods sector was down by-0.77%. The Oil & Gas sector declined by 0.28%, and the Banking sector fell by 0.26%.