Trading at the Nigerian equities market on Tuesday was bearish as investors continued to book profits on banking stocks, leaving the benchmark index 0.1 per cent loss.
Equities trading at the Nigerian Exchange Limited (NGX) was largely affected by investors’ sustained profit-taking activities on Zenith Bank, GTCO and Access stocks as they ended the day with a 2.3 per cent, 0.7 per cent and 1.2 per cent dip in the value of their respective shares.
Thus, the All-Share Index (ASI) settled lower by 0.1 per cent at 38,873.85 basis points.
Accordingly, Month-to-Date and Year-to-Date losses increased to -0.9 per cent and -3.5 per cent, respectively.
Investors, therefore, shed N17 billion as the market capitalisation settled at N20.25 trillion as against an opening of N20.27 trillion.
Despite the overall bearish performance, market sentiment, as measured by market breadth, was positive, as 15 tickers gained, relative to 12 losers.
On the chart, MRS and Veritas Kapital recorded the highest gains, having appreciated by 9.8 per cent and 9.5 per cent respectively, while Neimeth Pharmaceutical and Chams EIMETH topped the losers’ list after their respective share value shed 7.9 per cent and 4.4 per cent.
On sectors, the Industrial Goods, Insurance and Oil & Gas indices recorded gains 0.1 per cent respectively, the Banking index declined while the Consumer Goods index closed flat.
Activities level was however unimpressive as the total volume of trades declined by 3.4 per cent to 184.44 million units, valued at N2.34 billion, and exchanged in 3,809 deals.
On Tuesday, United Bank for Africa was the most traded stock by volume at 38.99 million units, while GTCO was the most traded stock by value at N517.86 million.
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