Tuesday’s equities trading on the floor of the Nigerian Exchange Limited, NGX, closed negative as bearish sentiments continued to dominate the market.
Consequently, the benchmark index dipped further by 0.34% even as the All-Share Index lost 230.47 basis points or 0.34% to settle at 66,652.17 basis points from 66,882.64 basis points.
Market capitalisation on the other hand, also depreciated by 0.34% or ₦126bn to close at ₦36.479trn from ₦36,605trn.
Today’s negative performance was driven primarily by investors’ sell offs of BUA CEMENT PLC (-1.20%), ZENITH BANK PLC (-2.97%), and GUARANTY TRUST HOLDING COMPANY PLC(-2.93%) stocks.
Analysis of today’s market activities showed that a total of 363.99 million units of shares valued at ₦4.53bn were exchanged in 7,018 deals.
ACCESSCORP (+0.00%) was the most traded stock by volume at 49.97 million units of shares, while UBA (-1.71%) was the most traded stock by value at ₦787.37 million.
As measured by market breadth, market sentiment was flat as an equal number of stocks (22) gained and lost.
CONSOLIDATED HALLMARK INSURANCE PLC topped the gainers table with an increase in selling price from ₦1.00 per share to ₦1.10 per share, gaining 0.10k or 10.00%.
Followed by CORNERSTONE INSURANCE PLC with a rise from ₦1.50 per share to ₦1.65 per share, gaining 0.15 or 10.00%.
And UPDC REAL ESTATE INVESTMENT TRUST trailed with a rise from ₦3.55k per share to ₦3.90k per share, gaining 0.35k or 9.86%.
On the flip side is CONOIL PLC with a decline from ₦89.10k per share to ₦80.20k per share by ₦-8.90k or 9.99%.
Next is FTN COCOA PROCESSORS PLC falling from ₦1.91k per share to ₦1.72k per share losing 0.19k or 9.95%. While OANDO PLC followed with a fall from ₦10.70k per share to ₦9.65k per share losing ₦-1.05k or 9.81%.
Analysing by sectors, the Banking (-4.5%), Oil & Gas (-1.2%), and Industrial Goods (-0.3%) indices closed lower, while the Consumer Goods index closed flat. Meanwhile, the Insurance (+2.4%) index was the sole gainer of the day.
