On Tuesday, equities trading at the Nigerian Exchange Limited was tepid following profit taking activities in high capitalised stocks.
Thus, the All Share Index (ASI) settled lower by 1.99 per cent to settle at 60,715.04 basos points.
Specifically, share prices of BUA Cement, Access Holdings, United Bank for Africa, Nestle Nigeria, Guaranty Trust Holding Company, Zenith Bank, FBN Holdings, Lafarge Africa and MTN Nigeria moderated by 9.86 per cent, 6.03 per cent, 5.20 per cent, 4.00 per cent, 3.84 per cent, 3.83.per cent, 2.45 per cent, 2.19 per cent, and 1.80 per cent, respectively.
Consequently, the Month-to-Date and Year-to-Date returns moderated to -0.4 per cent and +18.5 per cent, respectively.
Equities investors, therefore lost N672.03 billion as the market capitalisation settled at N33.06 trillion at the end of the bearish trading session on Tuesday.
As measured by market breadth, market sentiment was negative, as 44 tickers lost relative to 33 gainers. Lasaco Assurance and recorded the highest gains of the day having depreciated in share value by 13.9 per cent and 10.0 per cent, while Conerstone Hallmark Insurance and Eterna topped the gainer’s list after their respective share prices appreciated by 10.0 per cent.
Notably, losses were broad-based, as four of the five indices tracked closed in red, save the NGX Oil/Gas index, which rose by 1.91 per cent. The NGX Banking, NGX Insurance, NGX Consumer Goods, and NGX Oil/Gas indices fell by 3.88 per cent, 0.52 per cent, 1.35 per cent, and 4.25 per cent, respectively.
Analysis of market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 13.04 per cent . A total of 1.11 billion shares valued at N12.21 billion were exchanged in 12,194 deals.
FCMB Group led the volume chart with 180.75 million units traded while Zenith Bank led the value chart in deals worth N1.80 billion.
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