Equities market dips 0.19 per cent amid renewed bearish activity 

At the end of Tuesday’s trading session, Nigeria’s equities market moderated by 0.19 per cent to close at 40,49435 points.

The market capitalisation dropped by 0.19 per cent, closed at N21.18 as investors reacted negatively to the 16.47 per cent rise in headline inflation for January 2021.

Hence, the Nigerian Stock Exchange All-Share Index’s year-to-date gain fell to 0.55 per cent, despite the market recording 22 gainers to 20 losers.

Specifically, there were sell-offs in medium and large capitalised stocks such as Zenith Bank, Stanbic IBTC Bank, Nigerian Breweries, and Honeywell Flour Mill. Their respective share prices were moderated by 0.60 per cent, 4.44 per cent, 3.28 per cent, and 3.10 per cent.

Of the five indices tracked, three closed in the red zone, the banking, insurance, and consumer goods indices moderated by 0.31 per cent, 1.54 per cent, and 0.52 per cent.

On the positive side, the oil and gas and NSE Industrial indices rose by 1.13 per cent and 0.01 per cent.

Meanwhile, trading activity picked up as deals, volume, and value of stocks closed in the green zone.

The total volume of trades rose by 72.82 per cent to 356.43 million units valued at N5.76bn in 5,040 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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