On Tuesday, equities trading at the Nigerian Exchange Limited (NGX) ended bearish to break 13 days of winning streak as the NGX All-Share Index (ASI) fell by 1.50 percent to settle at 103,106.85 basis points.
Basically, losses in Tier-1 banks, namely; Zenith Bank, Guaranty Trust Holding Company and United Bank for Africa dragged down the market as selloffs on these stocks dipped their value by 7.14 percent, 6.29 percent and 9.67 percent, respectively.
Consequently, the year-to-date (YTD) return decreased to +37.89 percent.
Meanwhile, owing to the bearish trading outing, equities investors lost N856.17 billion from their overall investments as the market capitalisation settled at N56.43 trillion by the end of trading activities on Tuesday.
Activities at the local bourse were tepid as analysis of market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 57.26 percent.
A total of 648.95 million shares valued at N11.09 billion were exchanged in 14,579 deals.
Japaul Gold led the volume chart with 59.80 million units traded while United Bank for Africa led the value chart with deals worth N1.23 billion.
Market breadth closed negative at with declining issues outnumbering the advancing ones. On the performance board, Access Holdings topped 49 others on the laggard’s table having depreciated in share value by 10.0 percent, while UPDC led six others on the leader’s table having appreciated in share value by 8.11 percent.
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