TUE MAY 07 2024-theGBJournal| The Nigerian equities market sustained its negative sentiments Tuesday as investors sold off FBNH (-9.9%) and GTCO (-6.0%).
As a result, the All-Share Index closed at 98,228.50 points, declining by 0.5%. Consequently, the Month-to-Date return was flat while Year-to-Date return moderated to +31.4%.
The total volume of trades increased by 0.9% to 425.66 million units, valued at NGN8.35 billion, and exchanged in 9,620 deals.
UBA was the most traded stock by volume and value at 102.23 million units and NGN2.68 billion, respectively.
Analysing by sectors, the Banking (-3.1%), Insurance (-1.5%) and Consumer Goods (-0.7%) indices declined, while the Industrial Goods and Oil & Gas indices closed flat.
As measured by market breadth, market sentiment was negative (0.5x), as 27 tickers lost relative to 14 gainers.
UNITYBNK (-10.0%) and FBNH (-9.9%) topped the losers’ list, while PRESCO (+10.0%) and JAPAULGOLD (+10.0%) recorded the highest gains of the day.
Meanwhile, the naira depreciated by 4.4% from N1,354.21/USD to N1,416.57/US$ at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
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