Nigerian stocks weakened by 0.05 per cent on Tuesday, taking a bashing from investors’ risk-off disposition to bank equities, signalling the second loss in a row the bourse would record this week.
Zenith led the slide supported by GTCO, and Union Bank. Wireless carrier MTN Nigeria announced it would launch its initial public offering on Wednesday, where it would welcome subscription from retail investors for 575 million ordinary shares for a period of two weeks.
Market breadth, the barometer for measuring the level of investors’ sentiment towards trade, closed in the negative, with 24 losers reported, relative to 12 advancers.
The all-share index shed 22.89 basis points to close at 43,248.05, while market capitalisation edged down to N22.57 trillion.
The index has been down by 4.47 per cent since the start of the year.
TOP FIVE GAINERS
AIICO led gainers, appreciating by 9.21 per cent to close at N0.83. Access added up 4.40 per cent to end trade at N9.50. WAPIC advanced by 4.17 per cent to N0.50. ETI rose to N8.35, notching up 3.73 per cent. fcmb completed the top 5, climbing up by 3.33 per cent to N3.10.
TOP FIVE LOSERS
UPDCREIT topped the losers’ chart today, declining by 9.89 per cent to close at N4.10. Ikeja Hotel shed 9.63 per cent to end trade at N1.22. UPDC fell to N1.07, losing 9.32 per cent. Chams slumped to N0.20, recording 9.09 per cent depreciation. Union Bank closed at N4.55, going down by 6.19 per cent.
TOP FIVE TRADES
In total, 224.9 million shares valued at N3.7 billion were traded today in 4,331 deals.
Access was the most active stock with 42.2 million of its stocks worth N389.7 million traded in 200 deals. Zenith had 39 million shares, priced at N935.4 million, exchange hands in 437 transactions. FBN Holdings traded 16.9 million shares valued at N198.7 million in 258 deals. GTCO traded 16.7 million shares estimated at N414 million in 416 transactions. AIICO traded 12.9 million shares valued at N10.5 million in 201 deals.
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