Nigerian stock market daily report: Loses continue on Tuesday as index dip by 1.50%

Loses on the Nigerian Exchange’s equities market continued on Tuesday as the All-Share Index dipped by 1.50%.

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₦849 million was wiped off Investors’ wealth as the market capitalization also dipped by 1.50% to ₦55.87 trillion. The bench All-Share Index shed 1,551.76 points to close the day’s trading session at 102,108.05.

Tuesday’s loses make it two days of loss out of two days of trading this week, culminating in a 2.2% week-to-date loss.

Maximum loses of 10% and 9.73% in BUA Cement Plc (NGX: BUACEMENT) and Guinness Nig. Plc (NGX: GUINNESS) respectively contributed enormously to the magnitude of the loss recorded on Tuesday.

Activity Level

The activity level waned on Tuesday as the volume, value of shares traded and the number of deals done all decreased.

The volume of shares and value of shares traded dropped by 41.28% and 60.70% respectively, while the number of deals done also decreased by 13.99%.

By the end of trading, 494.19 million shares valued at ₦7.59 billion had exchanged hands in 11,761 deals.

Shares of Jaiz Bank Plc (NGX: JAIZBANK), Universal Insurance Plc (NGX: UNIVINSURE) and Japaul Gold and Ventures Plc (NGX: JAPAULGOLD) were the most traded stocks by volume with 90.78 million, 40.39 million and 33.61 million shares respectively.

Shares of Guaranty Trust Holding Company Plc (NGX: GTCO), FBN Holdings Plc (NGX: FBNH), and MTN Nigeria Communications Plc (NGX: MTNN) were the most traded by value, with their shares worth ₦1.31 billion, ₦702.46 million and ₦665.29 million respectively exchanging hands.

Top gainers and losers

In the day’s trading session, 14 stocks advanced against 46 decliners.

The top five gainers were;

1. Cadbury Nigeria Plc (NGX: CADBURY): It gained 10% to close at ₦24.20.
2. Juli Plc (NGX: JULI): It gained 10% to close at ₦0.77.
3. Meyer Plc (NGX: MEYER): It gained 9.94% to close at ₦5.20.
4. Daar Communications Plc (NGX: DAARCOMM): It gained 9.09% to close at  ₦0.84.
5. Cap Plc (NGX: CAP): It gained 4.58% to close at ₦25.10.

The top five losers on were;

1. Consolidated Hallmark Holdings Plc  (NGX: CONHALLPLC): It lost 10% to close at ₦1.53.
2. Bua Cement Plc (NGX: BUACEMENT): It lost 10% to close at ₦166.50.
3. Sterling Financial Holdings Plc (NGX: STERLINGNG): It lost 9.85% to close at ₦5.86.
4. UPDC Plc (NGX: UPDC): It lost 9.79% to close at ₦1.75.
5. The Initiates Plc (NGX: TIP): It lost 9.79% to close at ₦2.12.

Four out of the five indices under our watch closed negatively, while one closed flat.

1. Banking Index: The index lost 2.27% to close at 931.51 points (YTD: +3.82%).
2. Industrial Index: The industrial index lost 3.79% to close at 5,451.55 points (YTD: +101.00%).
3. Consumer Goods Index: The index lost 0.22% to 1,476.67 points (YTD: +31.69%).
4. Oil & Gas Index: It closed flat at 1,251.64 points (YTD: +20.00%).
5. Insurance Index: The index lost 1.00% to close at 424.53 points (YTD: +31.98%).

Nnamdi Maduakor

Nnamdi Maduakor is a Writer, Investor and Entrepreneur