NGX Index Declines by 0.40%, Investors Exit Positions
The Nigerian Exchange (NGX) All share index (AIS) plunged by 40 basis points as investors exited positions in banking, oil stock on Tuesday.
The local bourse experienced another downturn as bearish sentiments dominating the transaction in some financial stocks.
The negative sentiment dragged the All-share index down by 0.40%, closing at 140,929.60 points and year to date return moderated for second trading session.
Specifically, Nigerian Exchange market capitalisation dropped by 0.4% to ₦89 trillion, and the year-to-date return fell to 36.92%.
The negative trade was driven by profit-taking in medium- and large-cap stocks, including ARADEL, ACCESSCORP and FIRSTHOLDCO,
Market activity decreased, with trading volume increasing by 10.75% to 460 million units, and the total transaction value reaching ₦17 billion across 20,535 deals.
FIRSTHOLDCO led in trading volume, accounting for the total units traded 100 million, while GTCO recorded the highest transaction value at ₦4.1 billion. #NGX Index Declines by 0.40%, Investors Exit Positions#
