The Nigerian Exchange Limited’s market capitalisation dropped by N58 billion on Tuesday, bringing it to N28.475tn and ending a seven-day rally.
According to The Punch, the NGX’s All-Share Index also fell by 107.03 points to 52,296.48 due to a sell-off in several shares. In total, 550,293,697 million shares worth N5.150bn were traded in 6,250 deals.
Meanwhile, Access Corp led the volume and value charts with 150 million units traded in deals worth N1.6bn. Market breadth appreciated with 30 gainers against 23 losers. Conoil, Union Bank of Nigeria, and Multiverse topped the gainers’ table, with their share units appreciating by 10%, 10%, and 9.71%, respectively.
NAHCO’s shares appreciated by 9.62%, closing at N13.10, while Nigerian Breweries saw a 9.38% increase, closing trading at N35.00. Meanwhile, Geregu, Transcorp, Afriprud, International Breweries, and Ikeja Hotel saw their shares decline by 10%, 9.96%, 9.40%, 8.51%, and 6.85%, respectively.
It was also reported that tracked indices mostly had a bullish performance, with the Banking, Oil & Gas, Consumer Goods, and Insurance indices rising by 2.84%, 1.05%, 0.31%, and 0.07%, respectively.
This was due to gains in UBN (+10.00%), CONOIL (+10.00%), N B (+9.38%), and ROYALEX (+7.14%).
However, the Industrial Goods index fell by 0.08%, which was attributed to selling pressures in Wapco (-1.66%), according to the report.
