Despite recording increase in activities on Tuesday, the Nigerian equities market closed flat as the benchmark index remained at 39,251.29 basis points.
Mixed trading persisted at the Nigerian Exchange Limited (NGX) despite profit-taking activities in some banking stocks such as GTCO, Ecobank Transnational Incorporations and United Bank for Africa, leaving their respective shares with 0.9 per cent, 4.6 per cent and 4.2 per cent losses.
Accordingly, Month-to-Date and Year-to-Date returns of the All Share Index (ASI) remained +0.1 per cent and -2.5 per cent, respectively.
Also, the market capitalisation settled at N20.451 trillion after a marginal increase of N83 million.
The number of losers recorded on Tuesday outweighed that of the gainers with 21 against 15.
On the performance chart, Cornerstone Insurance and Universal Insurance recorded the highest losses having depreciated in share value by 8.8 per cent and 4.8 per cent respectively; while United Capital and International Breweries topped the gainers’ list with 8.0 per cent and 7.5 per cent respective appreciation in share value.
Performance across sub-sector gauges was mixed as the NGX Banking and the NGX Insurance indices moderated by 0.31 per cent and 0.90 per cent respectively. While the NGX Consumer Goods and the NGX Oil/Gas indices rose by 0.52 per cent and 1.00 per cent respectively, the NSE Industrial index closed flat.
Meanwhile, trading activity was healthier on Tuesday as total deals, volume and value of stocks traded jumped by 6.32 per cent, 68.73 per cent and 107.55 per cent to 4,241 deals, 355.94 million units and N2.87 billion respectively.
FBN Holdings was the toast of investors for the day under review as it made the most traded stock by volume at 92.29 million units, while Access Bank was the most traded stock by value at N711.91 million.
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