NSE benchmark index falls by 0.13%

Salamatu Ejembi, Lagos

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Logo of the Nigerian Stock Exchange (NSE).

The equities market on the floor of the Nigerian Stock Exchange on Tuesday with the benchmark index dropping at 26,660.44 basis points or 0.13% lower than Monday’s 26,695.18 basis points.

Analysis according to Cordros securities says the fall was driven by losses in DANGOTE CEMENT PLC, and ZENITH BANK PLC stocks.

“Consequently, the Month-to-Date and the Year-to-Date losses worsened to -1.27% and -15.18%, respectively.”

The total volume of trades increased by 94.64% to 331.92 million units, valued at N4.78 billion and exchanged in 3,358 deals.

ACCESS BANK PLC was the most traded stock by volume at 24.22 million units, while GUARANTY TRUST BANK PLC was the most traded by value at N1.48 billion.

CORDROS says “Analysing the performance by sectors, significant losses recorded in the industrial Goods sector dampened the market performance, after the index slid by -1.02%.”

Gains were recorded across other sectors, as the Banking index added 0.62 percent, Oil & Gas index grew 0.15%, Insurance index gained 0.08% and Consumer Goods increased by 0.01%.

Market sentiment, measured by market breadth, was positive as 17 stocks recorded gains relative to 12 losers.

CHAMS PLC led the gainers chart with 10.0% increase followed by GUINNESS NIG. PLC with 9.88% gain.

While UPDC REAL ESTATE INVESTMENT TRUST and UNITY BANK PLC topped the laggards’ list by 8.99% and 7.14% respectively.

Peace PIAK