TUE APRIL 16 2024-theGBJournal| Nigerian equities market extended its woeful run Tuesday as sell off DANGCEM (-4.4%) stock dragged the All-Share Index further down by 1.9% to 99,808.34 points.
At the same time, the Month-to-Date loss rose to -4.6%, while the Year-to-Date return moderated to +33.5%.
The total volume traded declined by 23.7% to 403.89 million units, valued at N8.38 billion, and exchanged in 10,170 deals.
ACCESSCORP was the most traded stock by volume at 62.93 million units, while GTCO was the most traded by value at N1.74 billion.
On sectors, the Banking (-5.8%), Insurance (-3.3%), Consumer Goods (-1.0%), and Industrial Goods (-0.1%) indices closed in red, while the Oil & Gas index closed flat.
As measured by market breadth, market sentiment was negative (0.1x) as 49 tickers lost relative to 7 gainers. VITAFOAM (-10.0%) and FIDELITYBK (-10.0%) recorded the most significant losses of the day, while MORISON (+10.0%) and THOMASWY (+8.6%) topped the gainers’ list.
Meanwhile, the local currency recovery stalled Tuesday falling by 1.1% to N1,148.14/USD after gaining by 0.6% to N1,136.04/US$ at the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Monday.
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