Nigeria’s listed equities ended bearish for the second trading day of the week as the All-Share Index declined by 0.01 percent.
Sell-offs in many blue-chip stocks in the insurance sector, especially AXA Mansard, contributed to the downward trend for the Tuesday’s trading session on the Nigerian Exchange Limited (NGX), as market capitalization depreciated by N2 billion.
The key market component, the All-Share Index (ASI), which measures the performance of quoted companies dipped by 5.34 basis points, representing a decrease of 0.01 percent, to close at 38,858.99 points lower than Monday’s 38,864.33 points.
Also, the overall market capitalization declined by N2 billion to close at N20.245, showing a 0.01 percent reduction from the N20.249 trillion recorded on Monday.
The total volume of trades stood at 526.30 million valued at over N3 billion in 3,535 deals.
The market sentiment remained flat as trading closed with 16 gainers and 16 losers.
On the price movement chart, SKYAVN led the chart with a price gain of N0.40k to close at N5.45k. Wema Bank Plc followed with a price gain of N0.04k to close at N0.82, while Flour Mills Nigeria also gained N0.55k to close at N29.90k.
On the other hand, AXA Mansard led the losers’ chart, with a loss of N0.29 to close at N2.70k. AfriPrud followed with a closing price of N5.85k after losing N0.55k. Regal Insurance Plc lost N0.03k to close at N0.41k.
