Trading on the Nigerian Stock Exchange (NSE) on Tuesday reversed growth recorded in two prior trading sessions to close in red.
Whilst the lead market indicators; the All Share Index (ASI) and the market capitalization, recorded decline, performance gauged by total deals, as well as total market volume and value recorded appreciation.
The ASI for Tuesday closed at 26,278.20 points, representing a decline of 0.36 percent against previous session’s 26,373.83 when the ASI grew by 0.18 percent.
Market Capitalisation likewise fell by N32.9 billion to N9.041 trillion as against previous day’s closing figure of N9.074 trillion following an addition of N16.5 billion.
Meanwhile, 3,075 deals which was recorded during the previous trading session was heightened by 14.54 percent to amount to 3,522 deals traded Tuesday.
Investors also exchanged a total of 371.867 million unit of equities which was 113.71 percent higher than the previous session’s 174.010 million units, while value of equities traded for the day was 45.82 percent more than previous session’s N1.175 billion to N1.714 billion which was recorded for Tuesday.
Investors’ appetite however waned, as market breadth closed negative with 18 gainers to 11 losers. The price movement chart indicated that Unity Bank led on the gainers table by 5.08 percent to close at 62 kobo, Diamond Bank followed with an increase of 5.04 percent to close at N1.25, Vitafoam added 4.89 percent to close at N2.36, Cement Company of Northern Nigeria (CCNN) grew 4.82 percent to close at N4.35, and FCMB appreciated 4.76 percent to close at N1.32.
On the other hand, 7up led the day’s declining stocks, with 5 percent to close at N101.65, NEM 4.71 percent to close at 81 kobo, Nigeria Police Force Micro Finance Bank and A.G. Leventis depreciated 4.55 percent each to close at N1.05 and 84 kobo respectively, while Forte Oil dropped 4.46 percent to close at N70.30.
Fidelity Bank topped the activity chart for the day, with the sale of approximately 108 million units of shares worth N99.9 billion. Continental Re-insurance followed with 43.1 million shares worth N47.3 million, while Diamond Bank emerged the third most traded stock for the day with 37.5 million shares amounting to N45.7 million. Sterling Bank came fourth having traded 25.3 million units of shares valued at N20.4 million while FBN Holdings was fifth with 23.0 million shares worth N84.6 million.