Stocks Market: Investors' Fortune Dips By N436.43bn

Equities investors on the Nigerian Exchange Limited (NGX) on Tuesday saw their fortunes decline further, as the market capitalization shed N436.43billion to close at N23.68trillion as against N24.112 trillion recorded on the first trading session of the week.

At end of yesterday’s trading activities, bearish sentiment drove the domestic bourse with the NGX All-Share Index closing 1.81 per cent lower – the biggest single-day loss since 19 October – to settle at 43,466.93 points.

Selloffs in DANGCEM (-8.33%) and MTNN (-2.04%) underpinned the market’s weak performance. Consequently, the year-to-date (YTD) return fell to 1.76 per cent.

Analysis of Tuesday’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up 16.97 per cent.

A total of 249.91million shares valued at N2.50billion were exchanged in 3,283 deals. ACCESSCORP (+0.00%) led the volume and value charts with 128.73million units traded in deals worth N1.03billion.

Market breadth closed negative at a 1.90-to-1 ratio with declining issues outnumbering advancing ones. GUINNESS (-9.95%) topped eighteen (18) others on the laggard’s table, while UNITYBNK (+10.00%) led nine (9) others on the laggard’s log.