Bears sustain hold as Nigerian stocks dip by 0.72%

At the close of Tuesday’s trading session, the Nigerian stock market All-Share Index moderated by 0.72 per cent to close at 39,022.52 basis points.

The market capitalisation also lowered by 0.72 per cent to close at N20.34tn, even as investors lost N148.01bn to sign off for the day’s trading.

While the year-to-date loss of the ASI rose to -3.1 per cent, 22 stocks declined against 16 stocks to close in the green territory amid sell pressure on mid and large capitalised stocks.

The share prices of stocks such as BUA Cement, Zenith Bank, UAC of Nigeria, Linkage Assurance and FBN Holdings moderated by 5.71 per cent, 0.84 per cent, 0.48 per cent, 5.80 per cent and 2.72 per cent respectively.

Sectoral performance was weak, as three out of five indices tracked closed in the red territory.

While the insurance, consumer goods and industrial indices fell by 1.37 per cent, 0.05 per cent and 2.57 per cent respectively, the banking and oil and gas indices rose by 0.03 per cent and 0.26 per cent in that order.

Trading activity was mixed as total volume and value of stocks declined, total deals traded up.

At the close of the day’s trading, the total volume of stocks fell by 4.36 per cent to 204.64 million units, valued at N1.839.71bn in 3,940 deals.

Ehime Alex
Ehime Alex
Ehime Alex reports the Capital Market, Energy, and ICT. He is a skilled webmaster and digital media enthusiast.

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