×
  • Business - Market Data
  • Updated: March 27, 2024

Investors lose N104bn as equity market dips by 0.18%

Investors lose N104bn as equity market dips by 0.18%

Investors in the Nigerian Exchange stock market experienced another setback on Tuesday, with a further loss of N104 billion, representing a 0.18 per cent decline.

The market capitalisation, which began at N58.879 trillion, concluded the day at N58.775 trillion.

Likewise, the All-Share Index dipped by 0.18 per cent, settling at 103,952.47 compared to the previous day's 104,136.35.

Consequently, the Year-To-Date (YTD) return decreased to 39.02 per cent.

The decline was attributed to selloffs in key stocks such as MTN Nigeria, FBN Holdings, Access Corporation, International Breweries, Transnational Corporation, and Nestle Nigeria, among others.

Despite the downturn, the market breadth ended positively, with 27 gainers and 24 losers on the trading floor.

On the gainers’ chart, Abbey Mortgage Bank Plc led by 10 per cent to close at N2.42 per share.

Consolidated Hallmark Insurance Plc followed by 9.92 per cent to close at N1.44 per share.

Juli Plc gained 9.80 per cent to close at N8.63, May and Baker rose by 9.69 per cent to close at N6, while International Energy Insurance added 9.63 per cent to close at N1.48 per share.

Conversely, UPDC Real Estate Investment Trust led the losers’ chart by 9.87 per cent to close at N1.37, United Capital Plc trailed by 8.75 per cent to close at N21.90 per share.

Sovereign Trust Insurance shed 8.33 per cent to close at 44k, FTN Cocoa Processors dropped eight per cent to close at N1.61, and Livestock Feed Plc declined by 7.82 per cent to close at N1.65 per share.

Meanwhile, analysis of the market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 0.81 per cent.

Compared to 306.82 billion shares valued at N11.38 billion exchanged in 9,343 deals traded in the previous session, investors exchanged 374.41 billion shares valued at N11.29 billion in 8,689 deals.

On the activity chart, Guaranty Trust Holding Company (GTCO) led in volume and value with 67.15 million shares worth N3.27 billion, United Bank of Africa (UBA) followed by 51.47 million shares valued at N1.37 billion.

Zenith Bank sold 42.44 million shares worth N1.71 billion, Access Corporation traded 33.32 million shares worth N808.28 million, and Fidelity Bank transacted 30.02 million shares worth N300.27 million. 

Related Topics

Join our Telegram platform to get news update Join Now

0 Comment(s)

See this post in...

Notice

We have selected third parties to use cookies for technical purposes as specified in the Cookie Policy. Use the “Accept All” button to consent or “Customize” button to set your cookie tracking settings