- Advertisement -spot_img
35.2 C
HomeBusinessNigeria's equity market declines for 5th day in a row

Nigeria’s equity market declines for 5th day in a row

- Advertisement -spot_img

By Ifeyinwa Ezeokoli 


Trading activities on the Nigerian equities market sustained it negative trajectory on Tuesday, declining further for the fifth consecutive trading day as the main market indext fell by 0.23 percent at the close of trading.

The All Share Index (ASI) decreased by 108.26 points to close to close at 47,154.35 points compared with 47,262.61 points recorded on Monday..

The market cap of equities listed on the NGX declined to N25.414 trillion against the N25.472 trillion recirded the previous day.

The total volume traded closed with an exchange of 754.933 million units valued at N3.64 billion traded in 4,330 deals. The market breadth was negative with 16 gainers as against 28 losers.

The NGX 30 Index decreased by 0.36 percent to close at 1,803.49 points as against 1,810.00 points on the previous close.

Market turnover closed with traded volume of 133.37 million units. UBN and Ecobank were the key gainers, while Flour Mills and Nigerian Breweries were the key losers.

Thus, the month-to-date loss and year-to-date returns moderated to 0.5 percent and 10.4 percent, respectively.

The market negative performance was driven by price depreciation in large and medium capitalised stocks which are; Nestle Nigeria, Conoil, Nigerian Breweries, Flour Mills of Nigeria and Lafarge Africa.

GTI Securities Limited said that “The Nigerian domestic market extend its bearish trend to five consecutive days, as investors weigh the risk of the Russian-Ukrainian war on the local bourse. 

“However, we expect bulls to return to the market given the spate of corporate actions, we anticipate improved market activity to encourage a bullish response this week.” 

READ ALSO: Ebony Gov, Umahi says judgment against him is purchased, plans to appeal

Conoil and Jaiz Bank led the losers’ chart in percentage terms by 10 percent each to close at N23.85 and 72kobo per share, respectively. University Press followed with 9.97 percent to close at N2.62 per share. 

NEM Insurance lost 9.87 per cent to close at N3.56, while  R.T. Briscoe Nigeria shed 9.68 per cent to close at 56k per share.

Conversely, Niger Insurance dominated the gainers’ chart in percentage terms by 9.52 per cent to close at 23k per share.

Consolidated Hallmark Insurance followed with 8.47 per cent to close at 64k, while Cutix Plc rose by 8.30 per cent to close at N2.48 per share.

Nigerian Exchange Group rose by 6.97 per cent to close at N22.25, while UPDC Real Estate Investment Trust gained 5.56 per cent to close at 95k per share.

Transactions in the shares of Unity Bank topped the activity chart with 525.28 million shares valued at N262.47 million.

Guaranty Trust Holding Company followed with 29.35 million shares worth N766.26 million, while United Bank of Africa traded 17.98 million shares valued at N151.12 million.


Zenith Bank traded 14.27 million shares worth N382.96 million, while  Japaul Gold and Ventures transacted 13.21 million shares worth N4.59 million.


In all, the total volume traded increased by 158.6 per cent to 754.93 million units, valued at N3.64 billion exchanged in 4,330 deals. 


This was against 291.88 million units valued at N2.86 billion in 4,792 deals posted on Monday.

Join Our Mailing List!

* indicates required
- Advertisement -spot_img
- Advertisement -spot_img
Must Read
Related News
- Advertisement -spot_img