On Tuesday, the Nigerian Exchange’s (NGX) stocks sector fell as shareholders clicked enough sell buttons to reverse the previous day’s advance. Alpha Morgan Capital stockbrokers noted that the local market was high at lunchtime owing to solid positioning in banking equities.
However, before the trading session ended, the market reversed and bumped, leading the stock market’s year-to-date return to fall. According to data from the local exchange, key indicators fell by 0.04%.
According to local bourse trade records, the All-Share Index fell by 27.06 basis points, or -0.04%, to settle at 65,309.65. The market then returned to 27.43% after a day loss of roughly $15 billion.
Market activity, on the other hand, was mixed. The total value traded climbed by +14.91% while the total volume traded decreased by -4.94%. Atlass Portfolios Limited said that in 6,376 transactions, roughly 317.81 million units valued at $4,471.66 million were exchanged.
ACCESSCORP was the most traded stock by volume, accounting for 15.55% of total transaction activity. The Nigerian largest bank was followed on the volume list by STERLINGNG (13.81%), UNIVINSURE (9.10%), FCMB (5.71%), and FBNH (4.51%).
Stockbrokers indicated in their market updates that ACCESSCORP was also the most traded stock in terms of value, accounting for 19.27% of all deals on the exchange. GUINNESS, on the other hand, led the advancers’ list today with a price increase of 10.00 percent.
The brewer company was trailed by GLAXOSMITH (9.74%), CHELLARAM (+9.73%), TIP (+9.72%), UNIVINSURE (+9.09%), and twenty-three others. Twenty-four stocks depreciated. Trading data showed that NSLTECH was the top loser, with a price depreciation of -10.00%, to close at ₦0.27.
Towing the same line, NNFM dropped by 9.89%. JOHNHOLT lost 9.52%, TANTALIZER went down by 8.33%, GEREGU declined by 6.38% and CADBURY gave up 6.16% of its market valuation.
On Tuesday, the market breadth closed positive, recording 28 gainers and 24 losers. But the market sector performance closed negative.
Trading records from the local exchange showed that four of the five major market sectors were down, led by the Oil & Gas sector (-0.25%), followed by the Insurance sector (-0.18%), then the Industrial and Consumer goods sectors that dropped by (-0.05%) each, while the Banking sector Grew by +0.61%.
Overall, the equities market capitalisation declined by ₦14.72 billion, representing a drop of -0.04%, to close at ₦35,540.48 trillion from ₦35,555.20 trillion yesterday.
