The Nigerian equities market has sustained its bearish performance with both the Market Capitalisation and the All-Share Index declining by 0.20% to close at 75.80 trillion Naira and 119,741.23 basis points, respectively.
Tuesday’s trading, which happens to be the first trading day in the second half of the year, had its performance largely driven by sell pressures on DANGOTE CEMENT PLC (-3.4%), GUARANTY TRUST HOLDING COMPANY PLC (-1.2%) and ZENITH BANK PLC (-1.6%).
As a result, the Year-to-Date returns for the All-Share Index moderated to +16.34% while that of the Market Capitalisation upped +20.77%.
The total volume traded decreased by 74.06% to 527.08 million units of shares, value declined by 74.56% to N11.28 billion, and exchanged in 21,546 deals.
ELLAH LAKES PLC. was the most traded stock by volume at 46.05 million units of shares, while NIGERIAN BREW. PLC. was the most traded stock by value at N1.75 billion.
As measured by market breadth, market sentiment was positive, with 45 advancing stocks relative to 23 decliners.
MCNICHOLS PLC (+10.00%) and R T BRISCOE PLC. (+10.00%) led the gainers, while UNIVERSITY PRESS PLC. (-10.00%) and S C O A NIG. PLC. (-9.83%) posted the most significant losses of the day.
On sectors, performance was mixed, as the Industrial Goods (-3.2%), Insurance (-2.2%) and Oil & Gas (-1.9%) indices declined, while the Consumer Goods (+31.6%) and Banking (+18.0%) indices advanced.