The Nigerian Exchange (NGX) equity market saw a significant daily loss as investors booked profits on the stocks of listed businesses that had previously seen a rally. Key performance metrics therefore experienced a 1.52% drop.
In particular, the Nigerian Exchange All-Share Index closed at 102,108.05, down from 103,659.81 on Monday, a decrease of 1,551.76 points, or 1.52 percent. In addition, the market capitalization closed at N55.872 trillion, down from N56.721 trillion the previous session, a decrease of N849 billion, or 1.52%.
Consequently, the year-to-date (YTD) return decreased to 36.56%. In the meanwhile, investors’ heavy selloff in BUA Cement and Tier-1 bank equities was driven by their sour mood, which contributed to the market’s negative performance.
Also, investors exchanged 494.19 million shares valued at N7.6 billion in 11,761 deals, compared to 841.55 million shares valued at N19.33 billion exchanged in 13,674 deals on Monday. On the losers’ table, BUA Cement and Consolidated Hallmark Holdings Plc led in percentage terms of 10 each to close at N166.50 and N1.53, followed by Sterling Nigeria by 9.85 per cent to close at N5.86 per share.
UPDC Plc trailed by 9.79 per cent to close at N1.75, while The Initiate Plc (TIP) shed 9.79 per cent to close at N2.12 per share, respectively Conversely, Cadbury Nigeria Plc and Juli Plc led in percentage terms of 10 each to close at N24.20 and 77k, while Meyer Plc gained 9.94 per cent to close N5.20 per share.
Daar Communications Plc also garnered 9.09 per cent to close at 84k, while CAP Plc rose by 4.58 per cent to close at N25.10 per share. On the activity table, Jaiz Bank led in volume with 90.78 million shares traded at N226.98 million, followed by Universal Insurance with 40.39 million shares worth N16.64 million.
Japaul Gold and Ventures Plc also traded 33.61 million shares worth N99.25 million, while Guaranty Trust Holding Company (GTCO) traded 32.95 million shares worth N1.32 billion to lead the chart in value. Oil Prices Steady as Blinken Visits Middle East
First Bank Nigeria Holdings (FBNH) traded 27.53 million shares valued at N702.46 million. Analysis of the market activities showed that trade turnover settled lower relative to the previous session, as the value of transactions went down by 60.68 per cent.
