Nigerian stock market daily report: Local bourse loses 1.30% on Tuesday

The Nigerian local bourse suffered a 1.30% loss on Tuesday, after depreciating by 3.15% in Monday’s trading session.

Nigeria Exchange’s benchmark All-Share Index shed 1,332.56 points on Tuesday to close at 101,060.67 points. The market capitalization also depreciated by the same percentage points, losing ₦730 billion by the end of trading.

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In a space of two days, the Nigerian Exchange’s All-Share Index (NGX ASI) has depreciated by 4.41%, with the Equities market capitalization shedding ₦2.55 trillion.

Once again, Juli Plc (NGX: JULI) emerged as the top gainer on Tuesday, advancing by 9.94%. Honeywell Flour Mills Plc (NGX: HONYFLOUR) was the biggest loser, with its share price shading 10%.

At the trading of trading on Tuesday, the NGX ASI gains moderated to 35.15%, with Investors’ gain standing at ₦14.38 trillion.

Activity Level

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

The volume of shares, the value of shares traded and the number of deals done decreased by 6.46%, 10.90% and 9.34% respectively.

At the end of trading, 256.15 million shares valued at ₦6.62 billion had exchanged hands in 8,783 deals.

Shares of Transnational Corporation Plc (NGX: TRANSCORP), United Bank for Africa Plc (NGX: UBA) and Fidelity Bank Plc (NGX: FIDELITY) were the most traded stocks by volume with 39.74 million, 26.02 million and 25.47 million shares respectively.

Shares of Geregu Power Plc (NGX: GEREGU), Zenith Bank Plc (NGX: ZENITHBANK) and Airtel Africa Plc (NGX: AIRTELAFRI)  were the most traded by value, with their shares worth ₦1.11 billion, ₦750.53 million and ₦656.97 million respectively exchanging hands.

Top gainers and losers

In the day’s trading session, 8 stocks advanced against 43 decliners.

The top five gainers were;

1. Juli Plc (NGX: JULI): It gained 9.94% to close at ₦1.77.
2. Eterna Plc (NGX: ETERNA): It gained 6.17% to close at ₦17.20.
3. Veritas Kapital Assurance Plc (NGX: VERITASKAP): It gained 5.97% to close at ₦0.71.
4. Geregu Power Plc (NGX: GEREGU): It gained 3.68% to close at ₦985.00.
5. Tantalizers Plc (NGX: TANTALIZER): It gained 2.63% to close at ₦0.39.

The top five losers were;

1. Honeywell Flour Mills Plc (NGX: HONYFLOUR): It lost 10.00% to close at ₦3.60.
2. BUA Cement Plc (NGX: BUACEMENT): It lost 9.98% to close at ₦142.95.
3. PZ Cussons Nigeria Plc (NGX: PZ): It lost 9.75% to close at ₦27.30.
4. UPDC Real Estate Investment Trust (NGX: UPDCREIT): It lost 9.32% to close at ₦5.35.
5. Nem Insurance Plc (NGX: NEM): It lost 8.63% to close at  ₦6.35.

Four of the five indices under our watch depreciated, while one advanced.

1. Banking Index: The index lost 2.37% to close at 872.95 points (YTD: -2.70%).
2. Industrial Index: The industrial index lost 3.62% to close at 4,829.07 points (YTD: +78.05%).
3. Consumer Goods Index: The index lost 0.87% to 1,613.36 points (YTD: +43.88%).
4. Oil & Gas Index: It gained 0.21% to close at 1,311.24 points (YTD: +25.71%).
5. Insurance Index: The index lost 3.89% to close at 395.91 points (YTD: 23.08%).

Nnamdi Maduakor

Nnamdi Maduakor is a Writer, Investor and Entrepreneur