Stock Market Records Marginal Gain as 19 Tickers Dip
The Nigerian Exchange (NGX) records a marginal gain on Tuesday trading activities improve. Consequently, the market index -All-Share Index- increased by 1.57 basis points, representing a slight increase of 0.003% to close at 49,627.72.
The local bourse has been bleeding while some value hunters are positioning strongly to buy the blood. The equities market has been cold aftermath effect of the monetary policy committee of the Central Bank of Nigeria’s fast and furious interest rate hikes in May, and July 2022.
Trading data obtained from the local bourse shows that market sentiment was negative (0.8x), as 16 tickers lost relative to 12 gainers. Year to date return steadies at 16.2%, trailing the inflation reading.
Explaining today’s trading position, stockbrokers said mixed sentiments prevailed in the local bourse as losses in FCMB (-3.0%) and FBNH (-0.5%) offset a gain in WAPCO (+1.7%). As a result, the All-Share Index was flat at 49,627.72 points, with the month-to-date loss and year-to-date return unchanged at -0.4% and +16.2%, respectively.
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REDSTAREX (-10.0%) and CAVERTON (-4.6%) recorded the highest losses of the day, while MULTIVERSE (+9.7%) and NPFMCRFBK (+7.8%) topped the gainers’ list. Overall, the equities market gained ₦90 million, also representing an increment of 0.003% to close at ₦26.768 trillion from ₦26.767 trillion the previous day.
The total volume of trades increased by 85.1% to 160.24 million units, valued at N1.49 billion, and exchanged in 3,847 deals. ZENITH BANK was the most traded stock by volume and value at 26.74 million units and N536.65 million, respectively.
Sectoral performance was mixed, as the Insurance (-0.6%) and Banking (-0.1%) indices declined, while the Consumer Goods and Oil & Gas indices closed flat. The Industrial Goods (+0.1%) index was the sole gainer of the day. #Stock Market Records Marginal Gain as 19 Tickers Dip
