Dipo Olowookere
By Dipo Olowookere
Activities on the floor of the Nigerian Stock Exchange (NSE) finished on a negative note on Tuesday, reversing the gains recorded on Monday.
Business Post reports that the market slipped into the red zone yesterday again mainly due to negative investor sentiment with selloffs prevailing across all sectors.
At the close of transactions, the local stock market depreciated by 0.60 percent, which made the Year-to-Date (YtD) returns to reduce further to 2.15 percent.
While the All-Share Index (ASI) declined yesterday by 226.92 points to close at 37,421.01 points, the market capitalisation decreased by N82 billion to settle at N13.556 trillion.
Furthermore, the sector performances showed that the NSEINS10 depreciated by 2.55 percent, NSEIND by 2.23 percent, NSEBNK10 by 1.15 percent, NSEOILG5 by 1.10 percent and NSEFBT10 by 0.40 percent.
However, the volume of equities traded increased by 37.40 percent, while the value of shares sold went up by 88.86 percent.
A total of 213.2 million shares were exchanged on Tuesday in 4,043 deals worth N3.8 billion compared with the 155.2 million equities traded on Monday in 3,422 deals value at N2 billion.
A breakdown of these trades showed that the Financial Services sector led the activity chart with 151.6 million shares traded at N2.1 billion, while the Conglomerates sector followed with 24.7 million shares transacted for N67 million.
Zenith Bank was the most traded stock, exchanging a total of 39.9 million units worth N965.1 million.
It was followed by FBN Holdings, which sold 21.7 million shares valued at N227.2 million, and Transcorp, which traded 21.6 million units worth N27 million.
GTBank exchanged 15.8 million equities valued at N650.7 million, while Sovereign Trust Insurance traded 13.7 million shares worth N3.4 million.
On the price movement chart, Seplat topped the losers’ chart, depreciating by N15 to close at N635 per share.
It was trailed by Total Nigeria, which went down by N10 to close at N200 per share, and Lafarge, which declined by N2.25k to finish at N35.75k per share.
GTBank lost N1.40k to close at N40.10k per share, while Nigerian Breweries depreciated by N1.10k to end at N110 per share.
On the flip side, Forte Oil emerged the highest price gainer, appreciating by N2.70k to settle at N29.85k per share.
It was followed by Custodian and Allied, which grew by 49 Kobo to finish at N5.70k per share, and Ecobank, which appreciated by 20k to end at N20.60k per share.
Unilever Nigeria went up by 15 Kobo to close at N51.70k per share, while NEM Insurance rose by 10 Kobo to finish at N3.40k per share.
