Equity investors saw stocks plunge sharply on Tuesday as sentiment in the domestic stock market turned negative. This sent market capitalization down by more than Naira 672bn, allowing alpha-minded investors to secure early gains and reverse the previous uptrend.
Taking profits on BUACEMENT (-9.9%) and his MTNN (-1.8%) pushed the benchmark index up 2% for him. In addition, shares of ACCESSCORP, UBA, NESTLE GTCO, ZENITHBANK, FBNH and WAPCO also fell.
On the local stock exchange, MANSARD (-4.6%) and his WAPIC (-3.6%) were under selling pressure, while the insurance index fell 0.5% below him. Meanwhile, the oil & gas index rose 1.9% on TOTAL (+5.7%) and his buying interest in ETERNA (+10.0%). Year-to-date declines in yields slowed to 18.47% from 20.87%, reflecting bearishness on key performance indicators in the domestic stock market, market data showed. The market index (all shares index) fell 1234.20 basis points (-1.99%) to close at 60715.04.
Similarly, market activity declined as the total and total daily trading volume decreased by -8.14% and -13.04% respectively. Atlas Portfolio Limited said in a market update that around 1,107.34 million units worth £12,209.64 million had been settled in 12,194 transactions.
FCMB was the most traded stock on a volume basis, accounting for 16.35% of total trading volume. Tier 2 financial institutions are followed by STERLINGNG (9.72%), TRANSCORP (9.57%), UBA (7.90%) and ACCESSCORP (7.04%), which occupy the top five positions in the volume chart.
Zenith Bank accounted for 14.72% of the total trading volume on the stock exchange, making it the most traded share by value. CHIPLC topped the progress list with a price increase of 10.00 percent.
Second place was ETERNA (9.96%), CHAMS (+9.88%), ETRANSACT (+9.87%), SKYAVN (+9.87%), and 28 other companies. Market data showed 44 stocks fell, with LASACO the biggest loser, down 13.90% to ₦2.30. PZ decreased by 10.00%.
WEMBANK fell 9.98%, BUACEMENT fell 9.86%, TRANSCORP fell 9.84% and UBA fell 5.20% of market price. The market width closed profit-taking negative, with 33 winners and 44 losers.
The Markets division also finished negative, Specifically, four out of five major market sectors recorded declines, with industrials (-4.25%) leading the way, banking (-3.88%), consumer goods (-1.35%) and insurance (-1.35%). -0.52%) followed. %), while the Oil & Gas sector grew (+1.91%). Overall, the stock market lost £672.03 billion and closed at ₦33,731.84 trillion to ₦33,059.81 trillion. NGX loses 672 billion naira due to falling share price. Nigerian government bond yield rises to 7%
