Equities trading, on Tuesday, took a turn from its northward movement to record first loss in the year 2021 as the All Share Index (ASI) of the Nigerian Stock Exchange (NSE) sheds 1.8 per cent.
Precisely, the benchmark index declined by 1.8 per cent to 40,396.14 points. Accordingly, Month-to-Date and Year-to-Date gains moderated to +0.3 per cent respectively.
Profit-taking on bellwethers: BUA Cement, MTN Nigeria and Zenith Bank triggered the first loss of the year to leave the market’s worth at N21.12 trillion as investors lost N392.82 billion. Market sentiment, as measured by market breadth, was negative as 34 tickers lost, relative to 15 gainers. Oando and FTN Cocoa led the decliners chart having recorded the largest losses of the day by ten per cent and 9.7 per cent, while BOC Gas and NEM Insurance topped the gainers’ list after appreciating its stock value by 9.7 per cent and 9.5 per cent.
Similarly, the sectoral performance was bearish as all the sub-indices tracked closed in red, save the NSE Insurance index which rose by 1.56 per cent. The NSE Banking, NSE Consumer Goods, NSE Oil/Gas and NSE Industrial indices fell by 2.98 per cent, 0.32 per cent, 0.03 per cent and 2.74 per cent respectively.
The total volume of trades increased by 119.7 per cent to 465.67 million units, valued at N5.12 billion, and exchanged in 7,573 deals. Transnational Corporations was the most traded stock by volume at 69.16 million units, while Zenith Bank was the most traded stock by value at N788.33 million. YOU SHOULD NOT MISS THESE HEADLINES FROM NIGERIAN TRIBUNE As Nigeria Enters The New Year, More People Die Of COVID-19
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High cap stocks draw market to first loss, sheds N392.8bn
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High cap stocks draw market to first loss, sheds N392.8bn
