At the Nigerian Exchange Limited (NGX), on Tuesday, sell-offs of banking stocks triggered a negative performance, despite investors’ interest in MTN Nigeria.
Precisely, the All-Share Index (ASI) of the local bourse settled one basis points lower to close at 42,388.57 basis points as Zenith Bank and Access Bank depreciated in shares value by 0.8 per cent and 0.6 per cent respectively.
Consequently, the Month-to-Date and Year-to-Date return was unchanged at -2.0 per cent and +5.3 per cent, respectively.
However, market sentiment as measured by market breadth, was positive as 20 tickers gained relative to 14 losers.
On the performance board, Meyer and CHI Plc recorded the highest gains of the day as their respective shares added 9.5 per cent and 9.3 per cent, while Eterna Oil and MRS Oil topped the losers’ list having recorded respective 9.9 per cent from their shares value.
Per sector analyses indicated that the Insurance and Consumer Goods indices recorded gains by 1.2 per cent and 0.1 per cent, while the Oil & Gas and Banking indices declined by 0.5 per cent and 0.4 per cent respectively. The Industrial Goods index closed flat.
The total volume traded surged by 94.1 per cent to 275.93 million units, valued at N3.94 billion, and exchanged in 3,489 deals.
UACN was the most traded stock by volume at 75.88 million units, while FBN Holdings was the most traded stock by value at N836.41 million, respectively.
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