Profit-taking activities in DANGOTE SUGAR REFINERY PLC (-4.4%) and FBN HOLDINGS PLC (-1.9%) stocks drove the Nigerian equities market further into negative territory on Tuesday, resulting in a 0.2% decline in the benchmark index.
The All-Share Index dropped from 65,036.37 basis points to 64,928.98 basis points, a decrease of 107.39 basis points or 0.2%. The market capitalisation also fell from ₦35.415 trillion to ₦35.357 trillion, representing a loss of ₦58 billion or 0.2%.
Today’s market analysis revealed a total of 280.47 million shares valued at ₦4.65 billion traded in 6,296 deals.
The most traded stock by volume was TRANSNATIONAL CORPORATION PLC, with 36.47 million units exchanged, while the most traded stock by value was MTN NIGERIA COMMUNICATIONS PLC, with a trading value of ₦972.34 million.
Market sentiment, as indicated by market breadth, was negative with 31 stocks reporting losses compared to 18 gainers.
ETERNA PLC (-9.86%) and SUNU ASSURANCES NIGERIA PLC (-9.62%) experienced the most significant losses of the day, while TANTALIZER PLC (+10.00%) and IKEJA HOTEL PLC (+9.82%) emerged as the top gainers.
Across our sectoral coverage, the Industrial Goods (-1.2%), Consumer Goods (-0.7%), Oil & Gas (-0.4%), and Banking (-0.1%) indices settled lower, while the Insurance (+1.3%) index recorded gains.
