TUE, JULY 04 2023-theGBJournal |Sentiments in the domestic bourse, the NGX Exchange, turned negative Tuesday after weeks of stellar gains.
Profit-taking activities witnessed in BUACEMENT (-9.9%) and MTNN (-1.8%) sent the benchmark index, the All-Share Index, tumbling 2.0% down with the Index closing at 60,715.04 points. The Month-to-Date and Year-to-Date returns moderated to -0.4% and +18.5%, respectively as a result of the weak market performance today.
The total volume of trade declined also by 8.1% to 1.11 billion units, valued at NGN12.21 billion, and exchanged in 12,194 deals. FCMB was the most traded stock by volume at 180.75 million units, while ZENITHBANK was the most traded stock by value at NGN1.80 billion.
Sectoral performance was broadly bearish as the Industrial Goods (-4.4%), Banking (-3.9%), Consumer Goods (-1.4%), and Insurance (-0.5%) indices declined, while the Oil & Gas (+1.9%) index was the sole gainer.
As measured by market breadth, market sentiment was negative (0.8x), as 44 tickers lost relative to 33 gainers. LASACO (-13.9%) and PZ (-10.0%) recorded the highest gains of the day, while CHIPLC (+10.0%) and ETERNA (+10.0%) topped the gainer’s list.
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