Stock market sheds 0.03% to selloffs

The Nigerian stock market recorded 0.03 per cent decline on Tuesday, indicating N19 billion loss for investors.

Selloffs in Aradel Holdings, International Breweries, Sterling Nigeria, UPDC, among other declined equities propelled the market’s negative performance.

Accordingly, the market, capitalisation which opened at N59.245 trillion, lost N19 billion to close at N59.226 trillion.

Similarly, the All-Share Index fell by 0.03 per cent or 31.3 points, settling at 97,702.56 compared to 97,733.86 recorded on Monday.

Consequently, the Year-To-Date (YTD) return decreased to 30.66 per cent.

However, the market breadth closed positive with 29 gainers and 23 losers.

Beta Glass, Golden Guinea Breweries, led the gainers’ chart by 10 per cent each to close at N53.90 and 37k per share respectively.

Lafarge Wapco followed by 9.95 per cent to close at N70.15, Honeywell Flour advanced by 9.89 per cent to close at N4.89, while Sunu Assurances gained 9.88 per cent to close at N4.67 per share.

Conversely, Sovereign Trust Insurance led the losers’ chart by 10 per cent to close at 72k, JohnHolt trailed by 9.98 per cent to close at N8.03 per share.

Ellah Lakes shed 9.92 per cent to close at N3.18, Thomas Wyatt decreased by 9.42 per cent to close at N1.73, while Aradel went down by 8.72 per cent to close at N471.90 per share.

Analysis of the market activities showed trade turnover settled higher relative to the previous session, with the value of transactions advancing by 169.58 per cent.

A total of 1.16 billion shares valued at N27.36 billion were exchanged in 9,403 deals, compared with 451.17 million shares valued at N10.15 billion traded in 9,329 deals posted previously.

FBN Holdings led the activity chart in volume and value with 779.62 million shares worth N18.77 billion.