Local equities market lose 0.2 per cent to sell off of Stanbic, NB stocks

The Nigerian Stock Exchange (NSE) closed trading activities to reverse previous day’s gain, as investors took profits off the shares of Stanbic and Nigerian Breweries.

On Tuesday, the local bourse retraced, as the benchmark index declined by 0.2 per cent to 40,494.35 basis points.
Consequently, the Month-to-Date loss increased to -4.5 per cent, while the Year-to-Date gain moderated to +0.6 per cent.

Investors lost N40.47 billion to the negative sentiments as the market’s worth dips by 0.2 per cent to close at N21.18 trillion as against previous day’s close of N21.23 trillion.

Market sentiment, as measured by market breadth, was however positive as numbers of gainers outweigh the numbers of decliners by 21 against 20 losers.

On the performance chart, Learn Africa and Ardova Plc recorded the largest gains of the day having appreciated by 9.3 per cent and 9.1 per cent respectively, while UPDCREIT and Cornerstone Insurance topped the losers’ list, having declined in share value by ten per cent respectively.

Analyses by sectors indicated that the Insurance (-1.5%), Consumer Goods (-0.5%) and Banking (-0.3%) indices recorded respective 1.5 per cent, 0.5 per cent and 0.3 per cent, while the Oil & Gas index was the sole gainer of the day with 1.1 per cent gain. The Industrial Goods index was flat.

Activity at the local bourse was however impressive as the total volume of trades increased by 72.8 per cent to 356.43 million units, valued at N5.76 billion, and exchanged in 5,040 deals.

Guaranty Trust Bank was the most traded stock by volume and value at 46.16 million units and N1.43 billion, respectively.

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Local equities market lose 0.2 per cent to sell off of Stanbic, NB stocks