The bleeding continued on Tuesday as investors in the Stock market witnessed a second-day loss running to the tune of ₦730 billion.
So, you could say that the stock market of the Nigerian Exchange Limited (NGX) did not start this week trading on its right foot.
This became evident, as both the market capitalisation and the All-Share index declined.
Gaining and losing are the two sides of a coin that every businessman and investor experiences daily.
No matter how shrewd you are as a businessman or an investor, you will experience both one day at a time.
Have You Read: Stock Market Appreciates As Investors Gain ₦329bn
So, the loss witnessed at the Stock market section of the Nigerian Exchange Limited (NGX) was not a surprise.
However, what was surprising was that it happened for two consecutive days.
On Tuesday, the All-Share Index (ASI) of the NGX was down by 1.30% to close at 101,060.67 basis points.
Market capitalisation was down losing ₦729.16 billion to settle at ₦55.30 trillion at the end of the day’s trading activities.
Gainers And Losers
The dip in the value share price of BUA Cement (9.98%), Zenith Bank (0.14%), and Guaranty Trust Holding Company (0.38%) caused the drag in the market.
Consequently, the Month-to-Date and Year-to-Date returns settled at 0.1% and +35.2%, respectively.
As measured by market breadth, market sentiment was negative, as 42 tickers lost relative to seven gainers.
On the performance board, Honeywell and BUA Cement topped the losers’ list, having depreciated in share value by 10.0% respectively.
Eterna and Veritas Capital recorded the most significant gains of the day after their respective share prices appreciated by 6.2% and 6.0%, respectively.
You May Also Like: Stock Market: Investors Lose ₦1bn As Market Cap Dips To ₦55.87trn
Sectoral performance was broadly negative, as the Insurance, Industrial Goods, Banking, and Consumer Goods indices settled lower by 3.9%, 3.6%, 2.4%, and 0.9%, respectively, while the Oil & Gas index recorded gains.
A total of 256.16 million shares valued at ₦6.63 billion were exchanged in 8,783 deals in the stock market on Tuesday.
Transnational Corporation led the volume chart with 39.75 million units traded while Geregu Power led the value chart in deals worth ₦1.11 trillion.
