Nigerian stocks lost some ground Tuesday as the benchmark index slid by 0.12 per cent, bumping a market optimism created a raft of strong company results in what marked the exchange’s first decline after five days of gain.
Signs of profit-taking by speculators hunting gains accruing from that period began to emerge on Monday when appreciation in share prices were moderated by some sell-offs in financial services stocks.
The move became more intense on Tuesday, with the likes of UACN, MTNN, UPDC and GTCO leading the slide.
However, market breadth – a measure of investors’ sentiment – was neutral with gainers and losers numbering twenty apiece.
The all-share index edged down by 46.93 basis points to 38,802.12 and market capitalisation to N20.216 trillion. Since January, the index has been down 3.65 per cent.
TOP FIVE GAINERS
Oando led gainers, appreciating by 9.86 per cent to close at N4.79. Champion Breweries lifted by 9 per cent to end trade at N2.30. FTN Cocoa went up by 8.89 per cent to N0.49.
Fidson rose to N6.50, notching up 6.73 per cent in the process. Livestock completed the top 5, climbing by 6.02 per cent to N2.29.
TOP FIVE LOSERS
UPDC REIT led losers, declining by 6.67 per cent to close at N5.60. Unity Bank shed 6.45 per cent to end today’s trade at N0.58. NPFMFB fell to N1.61, losing 5.29 per cent.
UPDC slumped to N1.28, recording 5.19 per cent depreciation. Chams closed at N0.20, going down by 4.76 per cent.
TOP FIVE TRADES
A total of 243.086 million shares worth N1.899 billion were traded in 4,326 deals.
Access was the most active stock with 21.766 million of its stock worth N204.436 million traded in 209 deals. Wema traded 21.299 million units priced at N17.862 million in 88 transactions. UPDC had 14.552 million shares valued at N18.267 million exchanged hands in 116 deals.
UACN traded 14.420 million shares estimated at N162.185 million in 112 transactions. UBA traded 12.608 million shares valued at N99.080 million in 167 deals.
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