The equities trading at the Nigerian Equities (NGX) on Tuesday ended its trading session on a bearish note as the All-Share Index (ASI) dropped by 0.24 per cent to close at 103,398.82 basis points.
The equities market reversed the previous day’s gains as sell pressures in Zenith Bank, United Bank for Africa and Access Holdings triggered a 0.2 per cent decline in the ASI.
This decline was also reflected in market capitalization, which fell by 0.24 per cent to N63.05 trillion, translating to an N152 billion loss for investors amid widespread sell-offs.
Thus, the Year-to-Date return settled at +0.5 per cent.
Despite the overall negative sentiment, 19 stocks posted gains, while 51 stocks recorded losses.
Among the top gainers were Abbey, PZ Cusson, Learn Africa, NCR and Nigerian Exchange Group
On the losing side, FTN Cocoa Processor, RT Briscoe and Veritas Capital each shed 10 per cent, while Sunu Africa Assurance and Cornerstone Insurance declined by 9.98 per cent apiece.
On sectors, the Insurance, Banking, Consumer Goods and Oil & Gas indices posted losses by 7.7 per cent, 0.6 per cent, 0.4 per cent and 0.1 per cent, respectively; while the Industrial Goods index remained unchanged.
Trading activity, however, was robust, with the number of deals, volume, and value increasing by 0.68 per cent, 29.94 per cent, and 10.48 per cent, respectively.
A total of 1.11 billion shares worth N14.64 billion were traded across 16,617 deals. First Bank of Nigeria Holdings emerged as the leader in both trading volume and value, with 161.5 million shares valued at N4.7 billion exchanged in 395 deals.
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