Profit-taking continues to pressure Nigerian equity market, dips 0.09%

Negative sentiment continued to prevail at the Nigerian equity market as it dropped 0.09 per cent on Tuesday, driven by sell-down on MTNN, Dangote Cement and 11 other stocks.

The All Share Index (ASI) shed 24.25 absolute points, representing 0.09 per cent to close at 26,365.83 points against the previous close of 26,390.08. Similarly, the Market Capitalization lost N11.81 billion, dipping 0.09 per cent, to close at N12.83 trillion, compared to Monday’s ₦12.847 trillion.

COURTVILLE advanced 10 per cent to top 11 other gainers, while ETERNA  shed -9,52 per cent to emerge worst performed stock among 12 others.

The total volume of stocks traded increased by 182.29 per cent from 245.853 million to 694.020 million, while the total value of stock traded increased by 474.75 per cent from ₦1.362 billion to ₦7.827 billion in 2,780 deals.

The Financial Services sector led the activity chart with 467.716 million shares exchanged for ₦7.199 billion, while the Healthcare sector came next with 28.537 million shares traded for ₦0.057 billion.

Zenith Bank was the most active both in terms of volume and value, trading 357.23 million units worth N6.18 billion.

The Nigerian Stock Exchange has posted -16.11 per cent this year.