TUE APRIL 23 2024-theGBJournal| The domestic stock market reversed yesterday’s gains as profit-taking activities in FBNH (-9.9%), NESTLE (-9.0%) and ZENITHBANK (-5.0%) undermined market performance Tuesday.
Consequently, the NGX ASI declined by 0.4% to close at 99,311.54 points. Accordingly, the Month-to-Date and Year-to-Date returns printed -5.0% and +32.8%. respectively.
The total trading volume surged by 87.3% to 574.43 million units, valued at N7.84 billion, and exchanged in 7,324 deals. TRANSCORP was the most traded stock by volume and value at 125.70 million and N1.89 billion, respectively.
Analysing by sectors, the Banking (-2.9%), Consumer Goods (-0.8%) and Insurance (-0.5%) indices posted losses while the Oil & Gas index closed flat. The Industrial Goods (+0.3%) index was the sole gainer of the day.
As measured by market breadth, market sentiment was negative (0.7x), as 24 tickers lost relative to 16 gainers. HONYFLOUR (-9.9%) and FBNH (-9.9%) recorded the most significant losses of the day, while SUNUASSUR (+10.0%) and JAPAULGOLD (+9.8%) topped the gainers’ list.
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