Equity market closes in red as negative sentiment persists

The Nigerian equity market closed in the negative territory on Tuesday as profit-taking activities in blue-chip stocks triggered a loss of over N151.392 billion.

A negative market breadth posted as there were 27 losers against 4 gainers.

The All Share Index (ASI) shrank by 1.27% basis points to close at 22,629.92. The market capitalisation closed at N11.794 trillion. Year to date, the index is down by 15.69%.

Omoluabi Microfinance Bank led the gainers’ chart today, appreciating by 9.09% to close at N0.60. NPF Microfinance Bank went up by 8.70% to N1.25. Lasaco Insurance rose to N0.25, notching up 4.17% in the process. Learn Africa added 2.11% to end today’s trade at N0.97.

Oando was the worst performing stock today, declining by 10% to close at N2.25. Champion Breweries shed 10% to close at N0.81. FBN Holdings fell to N4.25, losing 9.57%. WAPCO slumped to N10.35, recording 9.21% depreciation. Fidelity Bank closed at N1.72, going down by 8.99%.

250.346 million Shares estimated at N2.325 billion were traded today in 4,877 deals.

FBN Holdings was the most active stock for the second day running with 71.061 million units of its stocks worth N298.701 million traded in 393 deals. 52.200 million Units of Zenith shares priced at N695.025 million exchanged hands in 907 transactions.

GTB had 24.435 million shares valued at N451.857 million traded in 613 deals. UBA traded 15.167 million shares estimated at N85.910 million in 227 transactions. Fidelity traded 13.282 million shares valued at N22.950 million in 109 deals.