Bearish sentiment dominated the equity market on Tuesday, making investors lose N93 billion or 0.16 per cent.
Loses in MTN Nigeria, Transnational Corporation, Ecobank Transnational Incorporated(ETI), Royal Exchange, Oando Plc, among other declined stocks drove the market performance down.
Specifically, the Nigerian Exchange Ltd.(NGX) market capitalisation, which opened at N56.452 trillion, shed N93 billion or 0.16 per cent to close at N56.359 trillion.
The All-Share Index also went down by 0.16 or 163 points to settle at 99,630.51, in contrast to 99,793.71 recorded on Monday.
Consequently, the Year-To-Date (YTD) return fell to 33.24 per cent.
However, market breadth closed positive with 29 leaders and 19 laggards.
On the gainers’ chart, Total Energies led by N35.30 to close at N388.90, Presco Plc followed closely by N29.30 to close at N323.20 per share.
Conversely, National Salt Company of Nigeria(NASCON) led the losers’ chart by N4.05 to close at N36.80, Thomas Wyatt declined by 17k to close at N1.59 per share.
Analysis of the market activities showed that trade turnover settled higher relative to the previous session, with the value of transactions up by 22.62 per cent.
A total of 848.97 million shares valued at N16.55 billion were exchanged in 8,064 deals, as against 963.54 million shares valued at N13.50 billion exchanged in 8,657 deals traded in the previous session.
Fidelity Bank led the volume and value chart with 293.18 million shares worth N2.93 billion
