By: Kehinde Akinseinde-Jayeoba, Lagos
Equities trading at the Nigerian Exchange Limited (NGX) was bearish on Tuesday to reverse previous day’s gains as late profit-taking activities witnessed in Acces Holdings drove the All-Share Index (ASI) two points lower to 54,924.08 basis points.
Consequently, the Month-to-Date and Year-to-Date returns settled at -1.6 per cent and +7.2 per cent, respectively.
Equities investors, therefore, lost N6.55 billion from their investment as the market capitalisation settled at N29.92 trillion by the end of the day’s trading activities.
As measured by market breadth, market sentiment was negative, as 17 tickers lost relative to 14 gainers. On the performance board NCR and Linkage Assurance recorded the most significant losses of the day having declined in share value by 10.0 per cent and 8.7 per cent, respectively, while Sunu Assurance and Transcorp Hotels topped the gainer’s list after their share prices added 9.1 per cent and 8.3per cent, respectively.
The bearish trend was also seen across subsectors tracked as the NGX Banking, NGX Insurance, and NGX Consumer Goods indexes, moderated by 0.45 per cent, 0.42 per cent, and 0.04 per cent, respectively. The NGX Oil/Gas and NGX Industrial indices, on the other hand, remained unchanged from the previous trading day. In broad and narrow markets, the NGX Premium and NGX Mainboard indexes decreased by four basis points and one basis point, respectively. while the NGX-30 index rose by two basis points.
However, there was robust activities at the local bourse as analysis of market activities showed that trade turnover settled higher relative to the previous session, with the value of transactions up by 5.13 per cent. A total of 117.85 million shares valued at N1.40 billion were exchanged in 2,575 deals. Transnational Corporation led the volume chart with 23.40 million units while MTN Nigeria Communication led the value chart in deals worth N370.21 million.
READ ALSO FROM NIGERIAN TRIBUNE
