The Nigerian equities market ended Tuesday session in red with the All-Share Index dropping by 0.13 per cent.
The News Agency of Nigeria (NAN) reports that the index, which opened at 26,695.18, lost 34.74 points or 0.13 per cent to close at 26,660.44.
Similarly, the market capitalisation shed N16 billion or 0.13 per cent to close at N12.868 trillion against N12.884 trillion.
The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are: Dangote Cement, NASCON, International Breweries, UPDC Real Estate Investment Trust (UPDCREIT) and Lafarge Africa.
Analysts at Afrinvest Ltd. stated: “We do not expect a sustainable rebound in the equities market in the near term as investor sentiment toward equities remain sour.”
However, market breadth closed positive, with 17 gainers against 12 losers.
On the other hand, UPDCREIT led the losers’ chart with a loss of 8.99 per cent to close at N4.05 per share.
Unity Bank followed with a decline of 7.14 per cent to close at 65k, while Cornerstone Insurance dipped 6.67 to close at 56k per share.
International Breweries dropped 5.94 per cent to close at N9.50, while NASCON decreased by 5.36 per cent to close at N13.25 per share.
Conversely, Chams recorded the highest price gain of 10 per cent to close at 33k per share.
Guinness followed with a gain of 9.88 per cent to close at N35.60, while AG Leventis appreciated by 9.52 per cent to close at 46k per share.
Presco improved by 9.20 per cent to close at N47.50, while Wema Bank appreciated by 8.82 per cent to close at 74k per share.
The total volume traded rose by 94.65 per cent as investors bought and sold 331.92 million shares valued at N4.78 billion traded in 3,358 deals.
This was in contrast with a total of 170.52 million worth N2.05 billion transacted in 3,358 deals.
Access Bank topped the activity chart with 106.86 million shares valued at N1.07 billion.
Guaranty Trust Bank came with 50.12 million shares worth N1.48 billion, while Zenith Bank traded 46.64 million shares valued at N873.56 million.
Transcorp traded 24.08 million shares worth N23.53 million, while FCMB Group transacted 20.55 million shares worth N37.59 million.
Support PREMIUM TIMES' journalism of integrity and credibility
Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.
For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.
By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.
TEXT AD: To advertise here . Call Willie +2347088095401...