The Nigerian equities market suffered serious pullback during Tuesday’s trading session as investors rev up profit taking drives that significantly waned the market’s value at the close of the trading session on the bourse.
Data from the Nigerian Exchange Group (NGX) in the trading session indicated that the All-Share Index (ASI) closed at 60,715.04 index points, down 1.99% from the 61,949.24 index points it opened with on Monday.
Similarly, the data reflected, as expected, that the market capitalization fell by N671 billion, or 1.99%, to close at N33.06 trillion on Tuesday from the N33.731 trillion it closed at in the previous day’s session.
A further analysis of the market indices showed that the volume of equities traded totaled 1.11 billion, valued at N12.21 billion in 12,194 deals.
Despite the depreciation of the market’s capitalization, the day’s session ended with a positive market breadth as CHIPLC gained 10.00%, topping the list of gainers, while LASACO lost 13.86%, leading the list of losers. As was the case on Monday, FCMB was the most traded stock by volume at the close of the market.
Other top ASI gainers were CHIPLC, ETERNA, and CHAMS which gained 10.00%, 9.96% and 9.88% respectively while the other ASI losers comprised LASACO, PZ, and WEMABANK which shedded –13.86%, -10.00% and –9.98% respectively.
At the close of the trading on Tuesday, FCMB, STERLING and TRANSCORP were the most traded stocks with volumes of 180.75 million, 107.54 million and 105.87 million units respectively.
The NGX data further reflected that the top three listed entities based on value traded were ACCESSCORP (N1.34 billion), UBA (N1.12 billion), and FCMB (N981.47 million).
