Business & Finance

Nigerian Stock Exchange equities lose by 0.51%

The Equities market of the Nigerian Stock Exchange lost 0.51 percent on Tuesday retracting the gains made on Monday with Month-to-Date and Year-to-Date losses worsening to -0.69% and -12.42% respectively.

Comparatively, the All Share Index on Tuesday ended transactions at 27,527.40 basis points, 0.51 percent or 141.98 basis points lower than Monday’s closing of 27,669.38 basis points.

While the Market Capitalisation closed at 13,415 trillion Naira, 0.51 percent lower than Monday’s close of 13,484 trillion Naira.ACCESS BANK PLC was the most traded stock on the floor of the exchange with 65.127 million units of shares traded at N409.152 million Naira.

GUARANTY TRUST BANK PLC was next with 17.620 million units of shares sold at the value of N488.821 million Naira.

Then DANGOTE FLOUR MILLS PLC traded 16.159 million units of shares at value of N324.548 million.

In all, a total of 170.723 million units of shares worth N2.262 billion Naira were traded in 3,614.00 deals.

Consequently, market breadth declined as only 6 stocks gained while 23 fell with all others remaining unchanged.

Performance across sectors was largely negative as all, except 2 sectors closed on a negative note.

While the Industrial Index was the lone gainer in the sectoral indices by 0.11 basis points or 0.1 percent, ASeM Index closed unchanged remaining at 779.54 basis points.

MAY and BAKER led gainers’ by 4.35 percent, UCAP followed with 3.88 percent and STERLIN BANK PLC with 3.48 percent gains.

On the flip side, BETAGLAS led decliners by -9.95 percent, CONTINSURE by -9.88 and CADBURY by -9.65 percent.

Analysis from Cordros Securities predicts outlook for equities in the short to medium term to remain conservative, amidst the absence of any catalysts to drive positive market returns.

Source: Voice of Nigeria