…The Month-to-Date and Year-to-Date returns consequently declined to +0.9% and +36.6%, respectively
TUE, FEB 06 2024-theGBJournal| The Nigerian equities market stayed bearish on Tuesday, still assessing the clarifications made by the Governor of the Central Bank of Nigeria on foreign currency backlog situation.
Investors sold off BUACEMENT (-10.0%), forcing the All-Share Index lower by 1.5% to 102,108.05 points. The Month-to-Date and Year-to-Date returns consequently declined to +0.9% and +36.6%, respectively.
The total volume traded declined by 44.0% to 471.43 million units, valued at NGN7.33 billion, and exchanged in 11,544 deals. JAIZBANK was the most traded stock by volume at 90.78 million units, while GTCO was the most traded stock by value at NGN1.32 billion.
Analysing by sectors, the Industrial Goods (-3.8%), Banking (-2.3%), Insurance (-1.0%), and Consumer Goods (-0.2%) indices declined, while the Oil & Gas index closed flat.
As measured by market breadth, market sentiment was negative (0.3x), as 44 tickers lost relative to 13 gainers. BUACEMENT (-10.0%) and STERLINGNG (-9.9%) topped the losers’ list, while CADBURY (+10.0%) and MEYER (+9.9%) recorded the highest gains of the day.
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