The Nigerian equity market extended its downturn to two consecutive trading days on Tuesday, driven by sell-offs on Dangote Cement, Guinness, Access Bank and 14 other stocks.

The All-Share Index declined 0.58 per cent to close at 24,883.70 points, while market capitalisation lost ₦75.1billion to close at ₦13.0 trillion, taking year-to-date loss 7.3 per cent.

CADBURY gained 6.82 per cent to emerge as the top of the 17 advancers, while PRESTIGE shed 10 per cent to top 16 other losers.

The top traded stocks by volume were ACCESS (29.2m units), FIDELITY (27.8m units) and GUARANTY (25.3m units) while GUARANTY (₦625.6m), DANGCEM (₦368.5m) and ZENITH (₦257.8m) led by value.

The Banking and Consumer Goods indices advanced 0.5 per cent and 1.0 per cent respectively due to buying interest in GUARANTY (+1.0 per cent), ETI (+2.5 per cent), NIGERIAN BREWERIES (+6.3 per cent) and CADBURY (+6.8 per cent).

Also, the Oil & Gas index gained 0.3 per cent following price accretion in ARDOVA (+4.9 per cent).

Meanwhile, losses in MANSARD (-8.2 per cent), CHIPLC (-9.8 per cent), DANGCEM (-4.1 per cent) and WAPCO (-0.4 per cent) led to a 2.5 per cent and 2.2 per cent decline in the Insurance and Industrial Goods indices respectively.


Please enter your comment!
Please enter your name here