Equities trading at the Nigerian Exchange (NGX) kick starts the month of May on a bearish note as the All-Share Index (ASI) lose 0.1 per cent on Tuesday.
Profit-taking by investors spurred the first loss of the week, thus, the ASI declined by 0.1 per cent to 39,801.78 basis points.
Specifically, profit-taking on MTN Nigeria, WAPCO, Zenith Bank and United Bank for Africa by investors’ saw as their respective share prices fell by 0.51 per cent, 5.20 per cent, 1.12 per cent and 1.37 per cent.
Consequently, the Month-to-date and Year-to-Date losses printed -0.1 per cent and -1.2 per cent, respectively.
Despite the negative outing, market breadth closed positive as 24 gainers were recorded against 16 losers.
On the performance chart, LASACO Insurance and Neimeth Pharmaceutical recorded the top gainers of the day with respective ten per cent appreciation in their share value, while Linkage Insurance and Regal Insurance were the top losers of the day by 13.1 per cent and 9.1 per cent.
Sectoral performance was broadly negative as the Insurance, Oil & Gas, Industrial Goods and Banking indices all closed in the red; the Consumer Goods index was the sole gainer.
Meanwhile, trading activity picked up as total deals, volume and value of stocks traded rose by 30.09 per cent, 34.27 per cent and 56.26 per cent to 5,616 deals, 0.42 billion units and N46 billion respectively.
FBN Holdings was the most traded stock by volume at 79.60 million units, while Zenith Bank was the most traded stock by value at N1.28 billion.
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FULL TEXT: A viral post on WhatsApp is asking N-Power candidates to verify the status of their application and see if they have been shortlisted for the batch C cash grant…Local stock market bows to profit-taking, sheds 0.1 cent
Local stock market bows to profit-taking, sheds 0.1 cent
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