The Nigerian Exchange (NGX) Limited tasted defeat for the first time in a while on Tuesday after closing lower by 0.58 per cent as a result of profit-taking.
The market came under selling pressure yesterday, though investor sentiment remained bullish, as there were 45 price gainers and 25 price losers, implying a positive market breadth index.
Guinness Nigeria lost 10.00 per cent to close at N447.30, Union Dicon shed 9.82 per cent to finish at N19.75, AIICO Insurance depreciated by 9.28 per cent to N4.30, Wema Bank dipped by 8.72 per cent to N30.35, and MTN Nigeria crashed by 8.63 per cent to N836.00.
On the flip side, McNichols gained 10.00 per cent to sell for N7.92, RT Briscoe expanded by 10.00 per cent to N12.87, Zichis grew by 10.00 per cent to N25.08, Vitafoam rose by 10.00 per cent to N170.50, and CAP advanced by 9.99 per cent to N175.65.
Business Post reports that the energy index was down by 2.91 per cent and the banking sector declined by 1.48 per cent.
However, the industrial goods segment rose by 2.49 per cent, the insurance counter appreciated by 0.94 per cent, and the consumer goods space expanded by 0.40 per cent.
The All-Share Index (ASI) contracted by 1,411.37 points during the session to 241,750.15 points from 243,161.52 points, and the market capitalisation retreated by N906 billion to N155.152 trillion from N156.058 trillion.
Market participants transacted 1.3 billion stocks valued at N75.2 billion in 102,665 deals on Tuesday compared with the 967.5 million stocks worth N43.8 billion traded in 122,041 deals on Monday, showing a shortfall in the number of deals by 15.88 per cent, and a surge in the trading volume and value by 34.37 per cent and 71.69 per cent, respectively.
FCMB was the busiest equity yesterday with 160.6 million units sold for N1.8 billion, GTCO traded 94.1 million units worth N13.1 billion, Access Holdings transacted 81.8 million units valued at N2.1 billion, Zenith Bank exchanged 63.1 million units for N8.1 billion, and Fidelity Bank traded 48.4 million units valued at N911.8 million.