NGX: Bearish trend persists as investors stake at N1.92bn shares

Equities trading at the Nigerian Exchange Limited (NGX) ends at the red zone on Tuesday, as the market indicator dips marginally.

The domestic bourse traded with mixed sentiments, as interests in International Breweries and Access Bank offset losses in FBN Holdings and Zenith Bank.

Thus, the All-Share Index (ASI) closed flat at 37,857.24 basis points, with Month-to-Date and Year-to-Date losses flat at -0.1 per cent and -6.0 per cent, respectively.

At the end of trading activities, investors lost N34 billion as the market capitalisation settled at N19.724 trillion.

As measured by market breadth, market sentiment was positive as 16 tickers advanced relative to 12 losers.

On the chart, NCR and Wema Bank recorded the most significant gains of the day having appreciated by 9.6 per cent and 9.5 per cent respectively, while Ikeja Hotel and Custodian Insurance topped the losers’ list after recording 9.1 per cent and 6.2 per cent respective decline in their share value.

On sectors, the Banking and Consumer Good indices gained 0.4 per cent and 0.3 per cent respectively, while the Industrial Goods, Insurance and Oil & Gas indices closed flat.

Activities at the local bourse were however impressive as the total volume of trades increased by 5.4 per cent to 197.28 million units, valued at N1.92 million, and exchanged in 3,567 deals.

Wema Bank was the most traded stock by volume at 37.20 million units, while Guaranty Holdings Company (GTCO) was the most traded stock by value at N823.20 million.

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No Evidence Arab League Sent Warning Message To FG On Biafra Movement

CLAIM: A Twitter user claims that the Arab League of Nations sent a warning message to the Nigerian government on the Biafra movement.

VERDICT: No evidence to ascertain the origin of the statement. The statement is not new as it has been in circulation since 2017.  Also, Nigeria is not part of the Arab League and there is no evidence that that league will make a statement about a non-member.

FULL STORY: A Twitter user, Amah Johnbosco(@johnbosco_amah), on Monday, June 28, 2021, claimed that the Arab League of Nations said the Nigerian government is on its own if it provokes war while warning the government to let Biafra go.NGX: Bearish trend persists as investors stake at N1.92bn shares.NGX: Bearish trend persists as investors stake at N1.92bn shares