Nigerian stock market slumps again after Monday’s gain

Amid renewed profit taking activity on Tuesday, the Nigerian Stock Exchange All-Share Index moderated marginally by 0.05 per cent to 38,704.97 points.

The market capitalisation also fell slightly by 0.05 per cent to close at N20.25tn, as investors lost N9.36bn.

At the close of the day’s trading, 20 stocks recorded losses while 19 gained, taking the year-to-date loss of the ASI up to -3.88 per cent

With a fall of 0.65 per cent on the banking index, the banking stocks were most hit, as investors took profit on the shares of Zenith Bank, Ecobank Transnational, FBN Holdings and FCMB Group.

Their respective share prices, as a result, moderated by 2.22 per cent, 5.88 per cent, 0.69 per cent and 1.35 per cent.

Performance across the remaining sectoral indices tracked closed positive.

The insurance, consumer goods and oil and gas indices rose by 0.64 per cent, 0.11 per cent and 0.13 per cent respectively, while the industrial index closed flat.

Trading activity was positive, as total volume and value of stocks traded rose. Total volume of trade increased by 48.03 per cent to 410.38 million units valued at N5.98bn in 3,937 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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