Profit taking activities on Tuesday in DANGOTE SUGAR REFINERY PLC (-4.4%) and FBN HOLDINGS PLC (-1.9%) stocks further drove the Nigerian equities market into the negative territory as the benchmark index shed 0.2%.
Specifically, the All-Share Index declined from 65,036.37 basis points to 64,928.98 basis points by 107.39 basis points or 0.2%. While the market capitalisation fell from ₦35,415 trillion to ₦35,357 trillion by ₦58 billion or 0.2%.
Analysis of today’s market activities showed a total of 280.47 million units of shares valued at ₦4.65bn were exchanged in 6,296 deals.
TRANSNATIONAL CORPORATION PLC was the most traded stock by volume at 36.47 million units, while MTN NIGERIA COMMUNICATIONS PLC was the most traded stock by value at ₦972.34 million.
As measured by market breadth, market sentiment was negative as 31 stocks lost relative to 18 gainers.
ETERNA PLC (9.86%) and SUNU ASSURANCES NIGERIA PLC (-9.62%) recorded the most significant losses of the day, while TANTALIZER PLC (+10.00%) and IKEJA HOTEL PLC (+9.82%) topped the gainers’ list.
Across our sectoral coverage, the Industrial Goods (-1.2%), Consumer Goods (-0.7%), Oil & Gas (-0.4%), and Banking (-0.1%) indices settled lower, while the Insurance (+1.3%) index was the sole gainer of the day.
