NGX extends losing streak by N3 billion
The Nigerian Exchange (NGX) Ltd. closed trading on Tuesday on a cautious trading extending losing streak by N3 billion.
Specifically, the market capitalisation which opened at N20.248 trillion lost N3 billion or 0.01 per cent to close at N20.245 trillion.
Similarly, the All-Share Index closed flat, losing 5.34 points or 0.01 per cent to close at 38,858.99 against 38,864.33 achieved on Monday.
Accordingly, the month-to-date and year-to-date losses return unchanged at 0.9 per cent and 3.5 per cent, respectively.
Market watchers attributed the decline mostly to sell-off in the financial sectors.
The market negative performance was driven by price depreciation in large and medium capitalised stocks which are; Africa Prudential, AXA Mansard Insurance, Zenith Bank, Access Bank and Cutix.
Consequently, market breadth closed negative with 15 laggards as against 14 gainers.
AXA Mansard Insurance dominated the losers’ chart in percentage terms by 9.70 per cent to close at N2.70 per share.
Africa Prudential followed with 8.59 per cent to close at N5.85, while Regency Alliance Insurance lost 6.82 per cent to close at 41k per share.
Tripple Gee & Company lost 6.25 per cent to close at 90k, while Courteville Business Solutions shed 5.71 per cent to close at 33k per share.
Conversely, Skyway Aviation Handling Company led the gainers’ chart in percentage terms by 9.88 per cent to close at N4.45 per share.
Wema Bank followed with 5.13 per cent to close at 82k, while Flour Mills rose by 1.87 per cent to close at N29.90 per share.
United Capital garnered 1.75 per cent to close at N8.70, while Jaiz Bank gained 1.72 per cent to close at 59k per share.
However, the total volume of trades rose by 277.41 per cent to 526.30 million units valued at N3.05 billion in 3,535 deals.
This was against a total of 139.45 million shares worth N1.71 billion transacted in 3,539 deals on Monday.
Transactions in the shares of Honeywell topped the activity chart with 402.19 million shares valued at N1.53 billion.
United Bank for Africa followed with 11.12 million shares worth N82.70 million, while Transcorp traded 9.47 million shares valued at N8.74 million.
Fidelity Bank traded 9.15 million shares worth N22.39 million, while Wema Bank transacted 8.71 million shares valued at N6.76 million.
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
States
KASU-ASUU: KDSG sets up committee, approves N300 million earned allowance
The committee has four weeks to conclude its assignment and submit recommendations to the government.
NationWide
FG announces admission for unity colleges for 2026
Ms Folasade urged successful candidates to print their admission slips.
States
Amotekun rescues mother, two children allegedly kidnapped in Ondo
He said the victims were rescued after a brief scuffle with the kidnappers.
States
Man slumps, dies in Ondo
Mr Jimoh urged members of the public to contact the nearest police station for useful information.
Africa
Zambia shuts courts ahead of election appeal deadline
Under Zambian law, any challenge to the election results must be filed within seven days.
States
Gov Aiyedatiwa flags off 2.38km flyover project in Akure
Mr Aiyedatiwa described the project as a strategic intervention.
