The bears made a comeback to the Nigerian Exchange (NGX) Limited on Tuesday after investors embarked on a mild profit-taking.
Data showed that only 23 stocks ended on the gainers’ chart and 36 stocks finished on the losers’ log, representing a negative market breadth index and weak investor sentiment.
The worst-performing equity was Austin Laz after it shed 7.94 per cent to N2.90, Deap Capital declined by 6.67 per cent to N1.68, Fidson slumped by 6.67 per cent to N40.60, Caverton depreciated by 6.35 per cent to N6.49, and Berger Paints lost 5.92 per cent to sell for N36.55.
Conversely, the best-performing equity for the day was Regency Alliance after it chalked up 8.82 per cent to end at N1.48, Prestige Assurance appreciated by 6.71 per cent to N1.75, Coronation Insurance gained 6.45 per cent to settle at N3.30, Legend Internet grew by 5.45 per cent to N5.80, and CWG increased by 4.74 per cent to N18.80.
The bulls made efforts to remain in control after the insurance space rose by 1.01 per cent, the industrial goods sector appreciated by 0.30 per cent, and the consumer goods counter rose by 0.10 per cent, but the decline posted by the duo of banking and energy indices crumbled Customs Street.
Business Post reports that the banking industry fell by 0.37 per cent and the energy counter declined by 0.09 per cent, while the commodity sector closed flat.
Consequently, the All-Share Index (ASI) was marginally down by 6.20 points to 147,710.96 points from 147,717.22 points and the market capitalisation decreased by N4 billion to N93.757 trillion from N97.761 trillion.
During the session, investors bought and sold 495.1 million shares valued at N17.3 billion in 25,645 deals versus the 624.6 million shares worth N13.5 billion traded in 13.472 deals on Monday, showing a shortfall in the trading volume and number of deals by 20.73 per cent, 18.75 per cent and a growth in the trading value by 28.15 per cent.
Fidelity Bank led the activity log with 50.9 million equities valued at N1.0 billion, Chams exchanged 37.4 million stocks worth N157.8 million, Tantalizers traded 36.7 million shares for N85.3 million, Access Holdings transacted 30.2 million equities worth N784.6 million, and Sovereign Trust Insurance sold 21.7 million shares valued at N76.7 million.