The Nigerian Exchange Ltd., NGX, equities market has ended a four-session bullish run, with market capitalization declining by N1.166 trillion amid sell-offs in key stocks.
Market capitalization fell by 0.73 per cent from N160.421 trillion to N159.255 trillion, while the All-Share Index dropped by 1,806.18 points to close at 246,723.57.
The decline came despite a positive market breadth, with 28 stocks gaining and 27 declining. The market’s year-to-date return also fell to 58.55 per cent.
Thomas Wyatt Nigeria led the losers’ chart, declining by 9.97 per cent to close at N2.89. AVA Capital followed with a 9.60 per cent decline to N8.95.
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International Energy Insurance fell by 6.32 per cent to close at N4, while International Breweries declined by 5.98 per cent to N11. Guinea Insurance also shed 5.13 per cent to close at 74k.
On the gainers’ chart, UPDCREIT led with a 10 per cent increase to close at N14.85. FTN Cocoa Processors followed, gaining 9.88 per cent to N8.90.
C&I Leasing rose by 8.26 per cent to N5.90, while Sovereign Trust Insurance advanced by 6.74 per cent to N1.90. Regency Alliance Insurance gained 6.33 per cent to close at 84k.
Trading volume surged to 3.909 billion shares valued at N32.38 billion in 45,608 deals, compared with 1.137 billion shares worth N27.02 billion traded in 59,185 deals on Monday.
Fortis Global Insurance dominated trading activity, accounting for 3.29 billion shares worth N9.58 billion. The figure represented 84.22 per cent of total volume and 29.57 per cent of total value traded.
NAN
