Market loses N152bn as Tier-one shares pull indices down — Every day Nigerian
The home bourse on Tuesday broke its profitable streak with a lack of N152 billion, following traders’ sell-offs of Tier-one banking shares.
Notably, losses in Zenith Bank, United Bank for Africa, UBA, Access Corporation, Oando Plc, Dangote Sugar, Nigerian Breweries, alongside different declined equities dragged the market down.
The market capitalisation, which opened at N63.203 trillion, shed N152 billion or 0.24 per cent to shut at N63.051 trillion.
The All-Share Index additionally misplaced 0.24 per cent or 249.42 factors, to shut at 103,398.82, towards 103,648.24 recorded on Monday.
As a consequence, the Year-To-Date (YTD) return decreased to 0.46 per cent.
Market breadth closed unfavourable with 51 losers and 18 gainers.
FTN Cocoa, RT Briscoe and Veritas Kapital led the losers’ desk by 10 per cent every to shut at N1.80, N2.70, and N1.53 per share, respectively.
Sunu Assurances and Cornerstone Insurance dropped 9.98 per cent every to shut at N10.01 and N4.15 per share, respectively.
On the gainers’ aspect, Abbey Mortgage Bank and PZ Nigeria led by 10 per cent every to shut at N3.63, and N27.50 per share respectively.
Learn Africa adopted by 9.90 per cent to shut at N5.44, NCR Nigeria added 9.77 per cent to shut at N7.30 and NGX Group gained 9.72 per cent to shut at N29.90 per share.
Analysis of market actions revealed a better commerce turnover in comparison with the earlier session, with transaction worth rising by 10.48 per cent.
A complete of 1.11 billion shares valued at N14.64 billion had been exchanged in 16,617 offers, in contrast with 855.97 million shares valued at N13.25 billion traded in 16,505 offers.
Meanwhile, FBN Holdings led the exercise chart in quantity and worth with 161.46 million shares in offers of N4.72 billion.
NAN
