WATCH THE VIDEO HERE Customs Street came under massive sell-offs on Tuesday, triggered by the rebalancing of portfolios by investors, leading to a 0.24 per cent decline at the close of business. None of the five major market segments ended in the green territory during the trading session as the closest, the industrial goods space, closed flat. The insurance counter depreciated by 7.68 per cent, the banking index shrank by 0.64 per cent, the consumer goods sector tumbled by 0.38 per cent, and the energy counter declined by 0.10 per cent. Consequently, the All-Share Index (ASI) plunged by 249.42 points to 103,398.82 points from 103,648.24 points and the market capitalisation tumbled by N153 billion to close at N63.051 trillion compared with the previous day’s N63.204 trillion. Business Post reports that investor sentiment turned bearish yesterday as a result of profit-taking, resulting in a negative market breadth index after the Nigerian Exchange (NGX) Limited recorded 19 price gainers and 51 price losers. FTN Cocoa, RT Briscoe, and Veritas Kapital lost 10.00 per cent each to trade at N1.80, N2.70, and N1.53, respectively, as Sunu Assurances shed 9.98 per cent to quote at N10.01, and Cornerstone Insurance also waned by 9.98 per cent to N4.15. The duo of PZ Cussons and Abbey Mortgage Bank gained 10.00 per cent each to settle at N27.50, and N3.63, Learn Africa improved by 9.90 per cent to N5.44, NCR Nigeria jumped by 9.77 per cent to N7.30, and NGX Group soared by 9.72 per cent to N29.90. Yesterday, investors bought and sold 1.1 billion shares worth N14.6 billion in 16,617 deals versus the 856.0 million shares valued at N13.3 billion traded in 16,505 deals on Monday, representing a rise in the trading volume, value, and number of deals by 29.94 per cent, 9.77 per cent, and 0.68 per cent, respectively. The activity chart was led by FBN Holdings with 161.5 million equities worth N4.7 billion, AIICO Insurance exchange 120.7 million shares valued at N225.4 million, Tantalizers traded 104.8 million stocks for N267.4 million, Universal Insurance transacted 93.8 million shares valued at N78.1 million, and Regency Alliance sold 47.3 million equities worth N44.6 million.
Customs Street Down 0.24% Amid Selling Spree by Investors
