Nigerian stock market daily report: Local bourse loses 0.33% on Tuesday

The Nigerian local bourse lost by 0.33% on Tuesday, erasing Monday’s 0.18% gain and putting week-to-date performance at -0.15%.

With the depreciation on Tuesday, the Nigerian Exchange’s All-Share Index (NGX-ASI) year-to-date gains moderated to +36.02%, as the index closed Tuesday’s trading at 101,707.77 points.

Also read; CBN sells dollars for the first time in 5 months as Naira hit record low

The market capitalization also depreciated by 0.33% on Tuesday, shading ₦184 billion to settle at ₦55.65 trillion.

The share price of Honeywell Flour Mills Plc (NGX: HONYFLOUR) appreciated the most on Tuesday, while the biggest loser was PZ Cussons Nigeria Plc (NGX: PZ) was the biggest loser.

Activity Level

The activity level was mixed on Tuesday as the volume of shares traded increased, while the value of shares that exchanged hands decreased.

The volume of shares increased by 8.54%, with the value of the shares traded decreasing by 16.10%.

At the end of trading, 263.19 million shares valued at ₦4.30 billion had exchanged hands in 8,614 deals.

Shares of Veritas Kapital Assurance Plc (NGX: VERITASKAP), United Bank for Africa Plc (NGX: UBA) and Fidelity Bank Plc (NGX: FIDELITYBK) were the most traded stocks by volume with 49.07 million, 24.34 million and 20.07 million shares respectively.

Shares of United Bank for Africa Plc (NGX: UBA), Zenith Bank Plc (NGX: ZENITHBANK) and Geregu Power Plc (NGX: GEREGU)  were the most traded by value, with their shares worth ₦587.50 million, ₦578.15 million and ₦357.98 million respectively exchanging hands.

Top gainers and losers

In the day’s trading session, 24 stocks advanced against 29 decliners.

The top five gainers were;

1. Honeywell Flour Mills Plc  (NGX: HONYFLOUR): It gained 9.92% to close at ₦4.32.
2. Juli Plc (NGX: JULI): It gained 9.9% to close at ₦1.11.
3. Cornerstone Insurance Plc (NGX: CORNERST): It gained 9.88% to close at ₦2.67.
4. ABC Transport Plc (NGX: ABC): It gained 9.76% to close at ₦0.90.
5. Veritas Kapital Assurance Plc (NGX: VERITASKAP): It gained 9.59% to close at ₦0.80.

The top five losers were;

1. PZ Cussons Nigeria Plc (NGX: PZ): It lost 9.87% to close at ₦25.10.
2. Morison Industries Plc (NGX: MORISON): It lost 9.84% to close at ₦2.75.
3. CWG Plc (NGX: CWG): It lost 9.70% to close at ₦6.05.
4. E-Tranzact International Plc (NGX: ETRANZACT): It lost 9.70% to close at ₦6.05.
5. Sovereign Trust Insurance Plc (NGX: SOVRENINS): It lost 9.62% to close at  ₦0.47.

Three of the five indices under our watch depreciated, while two advanced.

1. Banking Index: The index lost 1.85% to close at 884.06 points (YTD: -1.46%).
2. Industrial Index: The industrial index lost 0.10% to close at 5,421.29 points (YTD: +99.88%).
3. Consumer Goods Index: The index lost 0.22% to 1,483.76 points (YTD: +32.33%).
4. Oil & Gas Index: It gained 0.09% to close at 1,249.59 points (YTD: +19.80%).
5. Insurance Index: The index gained 1.13% to close at 425.68 points (YTD: +32.34%).

Nnamdi Maduakor

Nnamdi Maduakor is a Writer, Investor and Entrepreneur