NSE: All Share Index drops by 0.53%

Salamatu Ejembi, Lagos

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The Nigerian Stock Exchange, NSE equities market has declined by 0.53% following sell-offs of MTNN, GUARANTY, and WAPCO.

The market capitalisation declined from N12.844tn on Monday to N12.776tn on Tuesday.

The All Share Index shed 0.53 per cent to settle at 26,244.39 basis points, from 26,384.45 basis points on Monday.

Analysts at Cordros Securities explained that the decline brought the Month-to-Date and Year-to-Date losses to worsen to -5.02% and -16.50% respectively.

Also, the total volume of trades decreased by 45.67% to 264.97 million units, valued at NGN2.74 billion and exchanged in 2,920 deals.

Analysing Sectoral performances, losses in the Industrial Goods (-0.95%), Banking (-0.94%) and Oil & Gas (-0.16%) indices offset gains in the Insurance (+0.77%) and Consumer Goods (+0.08%) indices.

FCMB was the most traded stock by volume at 51.56 million units while GUARANTY was the most traded by value NGN1.01 billion.

Market sentiment, as measured by market breadth, was positive at as 13 stocks recorded gains relative to 10 losers.

RED STAR EXPRESS PLC gained 9.88% and CORNERSTONE INSURANCE PLC gained 9.76%, recording the largest gains while CHAMS PLC fell by 4.35% and NIGERIAN AVIATION HANDLING COMPANY PLC fell by 4.08%, recording the largest declines.

A total of 449.240 million shares valued at N1.640bn exchanged hands in 2,810 deals, representing a 5.1 per cent increase in volume and 46.4 per cent decrease in value.

Peace PIAK