Nigeria’s Stock Market Remains in Red Territory After 0.44% Loss

Business Post observed that only the commodity sector finished in green zone during the trading day, with the industrial goods space closing flat.

However, the insurance index lost 3.88 per cent, the consumer goods counter went down by 1.51 per cent, the banking space depreciated by 0.83 per cent, and the energy industry slipped by 0.07 per cent.

Consequently, the All-Share Index (ASI) moderated by 467.77 points to 106,436.48 points from 106,904.25 points and the market capitalisation declined by N290 billion to N66.653 trillion from N66.943 trillion.

Yesterday, a total of 12 equities ended on the gainers’ chart and 42 equities finished on the losers’ table. This showed a negative market breadth index and weak investor sentiment.

Caverton crashed by 10.00 per cent to N2.52, Consolidated Hallmark weakened by 9.87 per cent to N3.56, Eterna slumped by 9.66 per cent to N34.15, FTN Cocoa dropped 9.52 per cent to sell for N1.52, and Linkage Assurance declined by 9.09 per cent to N1.20.

On the flip side, Tantalizers gained 9.64 per cent to settle at N2.16 after information about its acquisition of equipment for its commercial fishing business.

Further, UH REIT appreciated by 8.84 per cent to N52.95, Champion Breweries rose by 7.69 per cent to N4.20, CWG soared by 5.70 per cent to N8.35, and Deap Capital expanded by 5.56 per cent to 95 Kobo.

Investors bought and sold 389.6 million shares worth N11.3 billion in 11,423 deals on Tuesday compared with the 395.5 million shares worth N8.8 billion traded in 13,967 deals on Monday, representing a rise in the trading value by 28.41 per cent, and a shortfall in the trading volume and number of deals by 1.49 per cent and 18.21 per cent, respectively.

Fidelity Bank topped the activity chart during the trading day after selling 47.9 million stocks valued at N803.5 million, Access Holdings traded 35.6 million equities for N853.9 million, UBA exchanged 29.1 million shares worth N1.0 billion, Jaiz Bank transacted 27.0 million shares valued at N89.7 million, and Zenith Bank sold 21.7 million equities worth N1.0 billion.