The Nigerian Exchange Equities Market suffered its first loses of the year 2022 on Tuesday, 2021. The All-Share Index shed 37.83 points to close at 43,859.30 points.
This represents a 0.09% drop from the 43,897.13 points recorded on Monday. The market capitalization endured same percentage decline, shedding N20.37 billion to close at N23.63 trillion.
Tuesday’s loses is attributable to the decline in the share prices of Nestle Nigeria Plc.
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With the decline in NESTLE’s price and the 10.00% gain in the share price of BUAFOODS, BUAFOODS’ market capitalization surpassed that of NESTLE, making it the 5th most capitalized stock on the exchange.
Activity Level
The activity level waned significantly on Tuesday, as both volume and value of stocks traded decreased.
While the volume of stocks traded decreased by 5.37% to 294.54 million units, while the value to stocks traded decreased by 21.68% to N6.76 billion.
Performance of Indices under our watch
The performance of the five indices under our watch are as below;
- Banking Index: 0.16% (409.40 Points)
- Industrial Goods Index: -0.27% (2044.21 Points)
- Consumer Goods Index: -4.76% (556.00 Points)
- Oil & Gas Index: 0.95% (355.54 Points)
- Insurance Index: -2.14% (197.37 Points)
The YTD performance waned to 2.84%, while the Market Capitalization is now up 6.33%, adding N1.33 trillion.
Investor Sentiment
Investors sentiment as measured by market breadth (advance/decline ratio) weakened further to 0.7x lower than the 1.5x recorded on Wednesday, as 17 stocks gained while 26 stocks also lost.
