The equities market has continued on its negative trend ending Tuesday’s trading with a 0.27(0.3)% decline.
Consequently, the Nigerian Exchange Limited, NGX All-Share Index ASI fell by 148.95 basis points or 0.27(0.3)% to settle at 54,035.39 basis points from Monday’s closing of 54,184.34 basis points.
The market capitalization also fell 0.27(0.3)% or ₦81bn to close at ₦29.436trn from ₦29.517trn.
The market’s weak performance was driven primarily by continued profit-taking activities across major banking stocks such as ZENITH BANK PLC (-2.52%), GUARANTY TRUST HOLDING COMPANY PLC (-3.15%) as well as LAFARGE AFRICA PLC. (-0.77%).
Analysis of today’s market activities showed that a total of 296.74m units of shares valued at ₦3.07bn were exchanged in 4,590 deals.
FIDELITY BANK PLC was the most traded stock by volume at 46.59 million units, while ZENITH BANK PLC was the most traded stock by value at ₦373.78m.
As measured by market breadth, market sentiment was negative with 21 declining issues outnumbering 14 advancing ones.
MULTIVERSE MINING AND EXPLORATION PLC (-9.9%) and ETERNA PLC. (-8.9%) topped the loser’s list, while S C O A NIG. PLC. (+10.0%) and NIGERIAN AVIATION HANDLING COMPANY PLC (+9.6%) recorded the highest gains of the day.
On sectors, the Insurance (+0.9%), Oil & Gas (+0.3%), and Consumer Goods (+0.1%) indices recorded gains, while the Banking (-1.3%) index declined. The Industrial Goods index closed flat.
Confidence Okwuchi
