ON Tuesday, equities trading at the Nigerian Exchange Limited went southward to reverse previous day’s gain.
The bears dominated the domestic bourse as the All-Share Index (ASI) slipped by 0.44 percent to settle at 71,041.05 basis points.
The market’s weak performance was primarily driven by selloffs in Dangote Cement, Zenith Bank and Guaranty Trust Holding Company, leaving the share prices lower by 2.44 percent, 0.42 percent and 0.90 percent.
Consequently, the Month-to-Date and Year-to-Date returns moderated to +2.6 percent and +38.6 percent, respectively.
The bearish trade on Tuesday left equities investors with N164.76 cumulative loss as the market capitalisation settled lower at N38.88 trillion.
As measured by market breadth, market sentiment was negative as 40 tickers lost relative to 18 gainers. On the performance board, Omatek Venture and Ikeja Hotel recorded the most significant losses of the day after their respective share prices depreciated by 10.0 percent and 9.9 percent, respectively; while Secure Electronic Technology and Mecure Industries topped the gainers’ list having appreciated by 10.0 percent, respectively.
However, sectoral performance was mixed, as the Insurance and Industrial Goods indices declined by 1.3 percent, respectively; while the Banking index advanced by 0.1 percent. The Consumer Goods and Oil & Gas indices closed flat.
Analysis of market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 5.48 percent. A total of 534.62 million shares valued at N5.62 billion were exchanged in 8,136 deals.
Access Holdings led both the volume chart with 52.36 million units traded and the value chart in deals worth N942.76 million.
READ ALSO FROM NIGERIAN TRIBUNE
