Economy And Business

TinuBULL Turns To TinuBEARS As Nigerian Equities Lose N671 Billion

the Nigerian equity market experienced a significant pullback on Tuesday, as investors booked profits after a strong performance in the previous trading day.

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TinuBULL has turned to TinuBEARS as Nigerian equities lost N671 Billion following the previous upswing.

 

Newsonline Nigeria reports that the Nigerian equity market experienced a significant pullback on Tuesday, as investors booked profits after a strong performance in the previous trading day. 

 

This Nigeria News Platform reports that the All-Share Index (ASI) closed at 60,715.04 index points, down 1.99% from the 61,949.24 index points it recorded at the end of the previous trading day. 

 

The market value of shares fell by N671 billion, or 1.99%, to N33.06 trillion at the close of trading. This was a significant decline from N33.731 trillion in the previous session.
 

Market Indices  

Below are the market indices for today’s trading session:

NGX ASI: 60,715.04 points 

% Day Change: -1.99%  

% YTD: +18.47%  

Market Cap: N33.06 trillion  

Volume Traded: 1.11 billion  

Value: N12.21 billion  

Deals: 12,194

How Stocks Performed
The day’s session ended with a positive market breadth as CHIPLC gained 10.00%, topping the list of gainers, while LASACO lost 13.86%, leading the list of losers. FCMB was the most traded stock by volume at the close of the market. 

Shares were exchanged for N12.21 billion today, down 13.03% from the N14.04 billion value of the previous day’s session. This suggests a reduced market trade value.
 

Top Gainers and Top Losers
The top gainers with double-digit percentage increases were CHIPLC, ETERNA, and CHAMS as they each saw gains of 10.00%, 9.96% and 9.88% respectively.  

Meanwhile, LASACO, PZ, and WEMABANK were at the top of the list of top losers, having shed –13.86%, -10.00% and –9.98% respectively.
 

Top Traded Stocks
1.11 billion shares were exchanged today as opposed to 1.20 million during the previous session, which indicates lesser trading activity in terms of volume.  

FCMBSTERLING and TRANSCORP were the most traded stocks today, with volumes of 180.75 million, 107.54 million and 105.87 million units respectively. These three stocks accounted for more than half of the total market turnover. 

The top three companies in terms of value traded were ACCESSCORP (N1.34 billion), UBA (N1.12 billion), and FCMB (N981.47 million).
 

SWOOTs Watch
The market value of swoot declined sharply due to losses in BUA CEMENTGTCO, ZENITH BANK, and MTN NIGERIA. These stocks fell by 9.86%, 3.84%, 3.83%, and 1.8% respectively.   

The market witnessed no significant changes in the prices of DANGOTE CEMENTAIRTEL AFRICA and BUA FOODS, as they all closed at the same level as the previous day.
 

FUGAZ Update
The stock market witnessed a bearish trend as the top five banks in the country recorded losses. GTCOUBAACCESS HOLDINGSZENITH BANK and FBN HOLDINGS declined by 3.84%, 5.2%, 6.03%, 3.83% and 2.45% respectively.   

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