Bears sustained their grip on the Nigerian Exchange (NGX) again on Tuesday, thereby impacting negatively on the broad market’s performance
As a result of the bearish trend of the local bourse, the market’s All-share Index (ASI) depreciated by 0.12% to close at 55,722.9 points while the market capitalization dipped by N36 billion to close at N30.355 trillion.
Data from the Nigerian Exchange Limited (NGX) on the local bourse’s trading trend on Tuesday indicated that the decline in the market’s ASI reduced the market’s Year-to-Date (YtD) returns by 7.99%, causing the market to advance by 4,127.24 basis points since the commencement of trading sessions in the bourse this year.
In addition, the data reflected that the market breadth closed negative as ENAMELWA led the 9 gainers’ table while CHAMS topped the 17 losers table at the end of the Monday’s trading session.
According to the NGX, the volume of stocks traded during the day under review totaled 199.2 million with a value of N2.81 billion in 3,898 deals.
The trading data showed that the five top ASI gainers comprised ENAMELWA up + 9.57% to close at N17.75; FTNCOCOA up + 7.69% to close at N0.28; STERLNBANK up + 3.42% to close at N1.51; UACN up + 3.26% to close at N9.50; and NGXGROUP up + 2.69% to close at N26.70
On the flip side, the top five ASI losers were CHAMS down – 8.00% to close at N0.23; PRESTIGE down – 7.32% to close at N0.38; LINKASSURE down – 6.82% to close at N0.41; UPDC down – 6.80% to close at N0.96; and WEMABANK down – 6.05% to close at N4.04
The data further indicated that the top three traded stocks by volume were STERLNBANK –31,092,585; NEIMETH –20,177,846; and ZENITHNBANK –16,510,724 while those that topped the value table comprised AIRTELAFRI – N677,996,373; ZENITHBANK – N412,519,084; and MTNN – N283,540,775.
