Equities market depreciates by 0.23%
Trading activities on the equities market of the Nigerian Exchange Limited (NGX) on Tuesday closed on a negative note, down by 0.23 per cent to extend the bearish trend to five consecutive trading days
The All-Share Index declined by 108.26 per cent, representing a decrease of 0.23 per cent, to close at 47,154.35 points. Similarly, the overall market capitalisation value lost N58 billion to close at N25.414 trillion.
The market negative performance was driven by price depreciation in large and medium capitalised stocks which are; Nestle Nigeria, Conoil, Nigerian Breweries, Flour Mills of Nigeria and Lafarge Africa.
GTI Securities Limited said that “The Nigerian domestic market extend its bearish trend to five consecutive days, as investors weigh the risk of the Russian-Ukrainian war on the local bourse. However, we expect bulls to return to the market given the spate of corporate actions, we anticipate improved market activity to encourage a bullish response this week.”
The market breadth was negative as 28 stocks declined relative to 16 gainers. Northern Nigeria Flour Mills (NNFM) and Niger Insurance recorded the highest price gain of 9.52 per cent to close at 23 kobo, per share. Consolidated Hallmark Insurance followed with a gain of 8.47 per cent to close at 64 kobo, while Cutix Plc rose by 8.30 per cent to close at N2.48, per share.
Nigerian Exchange Group (NGX Group) rose by 6.97 per cent to close at N22.25, while UPDC Real Estate Investment Trust (UPDC) gained 5.56 per cent to close at 95 kobo, per share.
On the other hand, Conoil and Jaiz Bank led the losers’ chart by 10 per cent each to close at N23.85 and 72 kobo respectively, while University Press followed with a decline of 9.97 per cent to close at N2.62, per share.
NEM Insurance declined 9.87 per cent to close at N3.56, while R.T. Briscoe Nigeria shed 9.68 per cent to close at 56 kobo, per share.
The total volume traded increased by 158.6 per cent to 754.933 million units, valued at N3.638 billion, and exchanged in 4,330 deals. Transactions in the shares of Unity Bank topped the activity chart with 525.278 million shares valued at N262.467 million. Guaranty Trust Holding Company (GTCO) followed with 29.354 million shares worth N766.262 million, while United Bank of Africa (UBA) traded 17.980 million shares valued at N151.123 million.
Zenith Bank traded 14.268 million shares valued at N382.959 million, while Japaul Gold and Ventures transacted 13.208 million shares worth N4.592 million.
