By Dipo Olowookere
The Nigerian Exchange (NGX) Limited could not extend its winning streak to four consecutive sessions on Tuesday after it succumbed to profit-taking, particularly in the consumer goods space, by 0.12 per cent at the close of business.
The local bourse ended in the red territory yesterday as a result of the 0.86 per cent loss recorded by the consumer goods sector, overpowering the gains recorded by the others.
Business Post reports that the banking index appreciated by 0.49 per cent, the insurance sector went up by 0.08 per cent, and the energy counter grew by 0.02 per cent, while the industrial goods space closed flat.
When the closing gong was struck by 2:30 pm, the All-Share Index (ASI) decreased by 113.50 points to 97,260.75 points from 97,374.25 points and the market capitalisation went down by N69 billion to settle at N58.935 trillion compared with Monday’s N59.004 trillion.
The heaviest loss was recorded by VFD Group at 10.00 per cent to sell for N40.50, Royal Exchange declined by 9.68 per cent to 56 Kobo, Oando shrank by 9.42 per cent to N62.05, Thomas Wyatt waned by 8.85 per cent to N1.75, and Dangote Sugar tumbled by 4.83 per cent to N28.55.
On the flip side, Eunisell continued its sterling performance with a 9.98 per cent growth to quote at N9.92, John Holt appreciated by 9.83 per cent to N5.81, Sunu Assurances improved by 9.71 per cent to N2.26, Universal Insurance gained 6.25 per cent to finish at 34 Kobo, and Regency Assurance grew by 4.17 per cent to 50 Kobo.
With 20 price gainers and 29 price losers, the market breadth index was negative as investor sentiment turned bearish.
On the second trading session of the week, investors bought and sold 340.8 million stocks valued at N9.0 billion in 10,069 deals versus the 297.8 billion stocks worth N7.5 billion traded in 9,902 deals a day earlier, representing an improvement in the trading volume, value and number of deals by 14.44 per cent, 20.00 per cent, and 1.69 per cent, respectively.
Topping the activity chart was United Capital after the sale of 76.8 million equities for N1.2 billion, Access Holdings exchanged 25.9 million shares worth N624.4 million, UBA traded 22.9 million stocks valued at N722.9 million, Oando transacted 18.2 million shares for N1.1 billion, and GTCO sold 15.7 million equities worth N841.0 million.