NGX declines by 0.09% as traders sell off MTN, Transcorp and others


The Nigerian Exchange (NGX) Limited fell 0.09 percent on Tuesday as investors sold some stocks that have seen price appreciation in recent days.

Profit-taking and weak investor sentiment contributed to the stock market slide yesterday, as traders continue to closely watch developments in the macro environment.

Some of them are watching inflation data from the National Bureau of Statistics (NBC) this week, as well as the decisions of the central banks of the main world economies on interest rates.

Commercial data obtained by trade publication revealed that investors trimmed their exposure to shares yesterday as trading volume fell 31.15 percent to 162.9 million shares from 236.6 million shares the day before.

Additionally, the number of deals decreased by 1.47 percent to 3,285 deals from 3,334 deals, while the value of deals improved by 56.00 percent to N3.9 billion from N2.5 billion. of Monday.

The analysis showed that Sterling Bank registered the highest number of shares traded by investors during the session, 31.6 million units.

GTCO sold 19.2 million shares, Chams traded 16.4 million shares, Zenith Bank traded 14.2 million shares and MTN Nigeria traded 12.5 million shares.

The industrial goods counter was seen gaining 1.78 percent on Tuesday, the banking index rose 0.64 percent and the insurance space appreciated 0.31 percent, while the consumer goods sectors and energy closed plans.

However, the All-Share Index (ASI) fell by 45.54 points to 48,853.54 points from 48,899.08 points, as the market capitalization lost N25 billion to N26.609 trillion from N26.634 trillion .

Yesterday, price losers outnumbered price winners. A total of 16 shares depreciated in value, while 12 shares appreciated in value.

SCOA Nigeria lost 9.30 percent trading at 78 Kobo, Chams fell 8.70 percent to 21 Kobo, Jaiz Bank depreciated 8.42 percent to 87 Kobo, Lasaco Assurance fell 6.67 percent to 84 Kobo and University Press decreased by 5.46 percent. cent to N1.73.

On the other hand, Smart Products topped the record of winners after closing up 10.00% to 22 Kobo, Cornerstone Insurance rose 8.70% to 50 Kobo, BUA Cement improved 3.60% to N95.00 , FTN Cocoa rose 3.23 percent to 32 Kobo, and Zenith Bank gained 2.45 percent to finish at N23.00.




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