Equities trading at the Nigerian Exchange Limited (NGX) was bearish on Tuesday, extending its negative tempo into the second trading session of the week, as loses recorded by such high cap stocks as MTN Nigerian, Flour Mills of Nigeria, Zenith Bank and Guaranty Trust Holding Company pushed the equities market below 51,000 basis points.
Thus, the All Share Index (ASI) dipped by 186 basis points (bps) to settle at 50.442.37 bps as against its previous close of 51,400.53 bps.
The negative outing pegged both the month-to-date and year-to-date performance of the ASI at -2.65 per cent and 18.09 per cent from their previous close of 0.80 per cent and 21.33 per cent, respectively.
Equities investors, therefore, lost N516 billion from their net worth as the market capitalisation followed the direction of the ASI to stand at N27.202 trillion, representing a 1.86 per cent decrease from the N27.718 trillion it stood at the end of the previous trading session.
Bears’ camp maintained dominance over the market breadth with 37 stocks in the losers’ chart pitted against three stocks in the gainers’ chart.
Livestock gained 1.63 per cent to become the best performing stock in the session, flanked by FBN Holding and Sterling Bank as they populated the gainers’ chart.
From the rear of the chart, Trans Express, International Breweries, MTN Nigeria, PZ and Berger Paints populated the top five losers’ chart.
Key sectoral indices closed in the same direction with the ASI, save for NGX Industry, NGX Growth and NGX ASEM sectors that closed flat.
However, market activity as measured by both volume and value of trades, improved in the session. Daily traded volume stood at 156.168 million units, representing a 57.98 per cent uptick from a volume of 98.852 million units traded in the previous session.
Value of those traded stocks inched up by 16.78 per cent in the session to stand at N2.937 billion as against a value of N2.515 billion recorded in the previous trading session.
Flour Mills of Nigeria (FMN) dominated the volume charts as the top traded stock by volume for the trading session, followed by Transcorp, GTCO, Zenith Bank and FBNH to complete the list of the five most traded stocks by volume.
With regards to the value of traded stocks, FMN took the lead of the top five performers, flanked by MTN Nigeria, Airtel Africa, GTCO and Zenith Bank.
ALSO READ FROM NIGERIAN TRIBUNE
- Atiku Challenges Tinubu To Grant Hour-Long TV Interview
- Tenant Flees After Allegedly Killing Landlord Over Rent In Abuja
The PDP spokesman recalled how the opposition party had on various occasions alerted that the APC government had ceded sovereignty over a large portion of our country to terrorists, “many of whom were imported into our country by the APC.”
He further stated: “From the video, in a brazen manner, terrorists as non-state actors boldly showed their faces, boasting, admitting and confirming their participation in the Kuje Prison break, some of whom were former prison inmates who were either jailed or awaiting trial for their previous terrorism act against our country.
“Nigerians can equally recall the confession by the Governor of Kaduna State, Mallam Nasir el-Rufai that the APC government knows the plans and whereabouts of the terrorists but failed to act.
According to Ologunagba, about 18,000 Nigerians have been killed by terrorists between 2020 and 2022 “as the criminals continue to be emboldened by the failures and obvious complicity of the APC and to which the PDP had always drawn attention.”
“This is not politics; this is about humanity and leadership, which leadership sadly and unfortunately is missing in our country at this time,” he said.
The PDP added that it is appalled by “the lame response by the apparently helpless, clueless and deflated Buhari Presidency, wherein it told an agonizing nation that President Buhari “has done all and even more than what was expected of him as Commander in Chief by way of morale, material and equipment support to the military…”
“This is a direct admission of incapacity and failure by the Buhari Presidency and the APC. At such a time, in other climes, the President directly leads the charge and takes drastic measures to rescue and protect his citizens.
“In time of adversity, the President transmutes into Consoler-in-Chief to give hope and succour to the citizens. Painfully, Nigeria does not have a President who cares and can stand as Consoler-in-Chief to the citizens.
“It has now become very imperative for Nigerians to take note and realize that the only solution to this unfortunate situation is to hold the APC government accountable. We must come together as a people, irrespective of our political, ethnic and religious affiliations to resist the fascist-leaning tendencies of the APC administration.
Ologunagba called for an urgent meeting of the National Council of State to advise on the way to go over the nation’s worsening insecurity.
“Our nation must not fall. The resilient Nigerian spirit and ‘can-do- attitude’ must be rekindled by all to prevail on the President to immediately and without further delay, accede to the demand by the PDP and other well-meaning Nigerians to convene a special session of the National Council of State to find a lasting solution since the President has, in his own admission, come to his wit’s end,” the PDP spokesman declared.
Osun Husband Killer Commits Suicide
Latest terrorist video: Presidency has admitted Buhari’s failure ― PDP
Essential Documents You Need When Applying To Study Abroad On Scholarship
Latest terrorist video: Presidency has admitted Buhari’s failure ― PDP
Latest terrorist video: Presidency has admitted Buhari’s failure ― PDP