Nigerian stock market daily report: Loses continue on Tuesday as market dips by 0.18%

Loses continued on the floor of the Nigerian stock market on Tuesday, as the equities market dipped by 0.18%.

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Loses across the highly capitalized industrial and consumer goods counters contributed to the day’s negative performance.

The benchmark All-Share Index (NGX ASI) depreciated by 0.18% shedding 183.88 points to close the day’s trading at 103,952.47.

Equities market capitalization declined by the same 0.18% to settle at ₦58.77 trillion. Investors’ wealth dropped by ₦104 billion.

Meanwhile, year to date, the All-Share Index gains moderated to 39.02%, with investor’s gains standing at ₦17.85 trillion.

Abbey Mortgage Bank Plc (NGX: ABBEYBDS) emerged as the top gainer, advancing by 10.00%, while UPDC Plc (NGX: UPDC) was the biggest loser, with it’s share price shading 9.87%.

Activity Level

The activity level was mixed on Tuesday as the volume of shares traded increased, while the value of the shares traded and the number of deals done both decreased.

While the volume of shares traded increased by 22.03%,  the value of shares traded and the number of deals decreased by 0.81% and 7.00% respectively.

At the end of trading, 374.41 million shares valued at ₦11.29 billion had exchanged hands in 8,689 deals.

Shares of Guaranty Trust Holding Company Plc (NGX: GTCO), United Bank for Africa Plc (NGX: UBA), and Zenith Bank Plc (NGX: ZENITHBANK) were the most traded stocks by volume with 67.14 million, 51.46 million and 42.43 million shares respectively.

Shares of Guaranty Trust Holding Company Plc (NGX: GTCO), Zenith Bank Plc (NGX: ZENITHBANK) and United Bank for Africa Plc (NGX: UBA) were the most traded by value, with their shares worth ₦3.26 billion, ₦1.71 billion and ₦1.36 billion respectively exchanging hands.

Top gainers and losers

At the end of the day’s trading session, 27 stocks advanced while 25 stocks declined.

The top five gainers were;

1. Abbey Mortgage Bank Plc (NGX: ABBEYBDS) : It gained 10.00% to close at ₦3.63.
2. Consolidated Hallmark Holdings Plc (NGX: CONHALLPLC): It gained 9.92% to close at ₦1.44.
3. Juli Plc (NGX: JULI): It gained 9.80% to close at ₦8.63.
4. May and Baker Plc (NGX: MAYBAKER): It gained 9.69% to close at ₦6.00.
5. International Energy Insurance Plc (NGX: INTENEGINS): It gained 9.63% to close at ₦1.48.

The top five losers were;

1. UPDC Plc (NGX: UPDC): It lost 9.87% to close at ₦1.37.
2. United Capital Plc (NGX: UCAP): It lost 8.75% to close at ₦21.90.
3. Sovereign Trust Insurance Plc (NGX: SOVRENINS): It lost 8.33% to close at ₦0.44.
4. FTN Cocoa Processors Plc (NGX: FTNCOCOA): It lost 8.00% to close at ₦1.61.
5. Livestock Feeds Plc (NGX: LIVESTOCK): It lost 7.82% to close at ₦1.65.

Three of the five indices under our watch advanced, two declined, and while the other one closed flat.

1. Banking Index: The index gained 0.07% to close at 993.50 points (YTD: +10.73%).
2. Industrial Index: The industrial lost 0.01% to close at 4,832.29 points (YTD: +78.16%).
3. Consumer Goods Index: The index lost 0.12% to close at  points (YTD: +43.85%).
4. Oil & Gas Index: It closed flat at 1,294.24 points (YTD: +24.09%).
5. Insurance Index: The index gained 0.23% to close at 395.13 points (YTD: +22.79%).

Nnamdi Maduakor

Nnamdi Maduakor is a Writer, Investor and Entrepreneur