Nigeria’s stock market closed lower on Tuesday’s session. Similarly, the overall market capitalization shed N16 billion to close at N13.005 trillion.
In 4,194 deals, equity investors traded a total of 200.3 million units of shares valued at ₦1.58 billion. FBN Holdings was the most traded stock by volume at 26.9 million units while Zenith Bank topped by value at N368.46 million.
Market breadth index was negative with 22 losers against 13 gainers.
FIDSON (+10.00%) led the gainer’s chart while NEIMEITH (-9.91%) topped the losers.
Sector performance closed bearish, following declines across board, save for the Industrial index, which gained 1.03 per cent on BUACEMENT (+1.60%).
The Insurance indices depreciated the most by 12.09% due to price decline in PRESTIGE (9.52%); AIICO (9.35%) and MBENEFIT (8.70%).
Similarly, the Oil & Gas, Consumer Goods and Banking indices trailed distantly to shed -0.57%; -0.24% and -0.11% due to negative sentiments in ARDOVA (-4.51%); OANDO (-2.78%); FLOURMILL (-6.68%) and FBNH (-1.90%).
Top gainers
FIDSON up 10.00% to close at N3.63,SKYAVN up 8.06% to close at N2.95,CAVERTON up 7.35% to close at N2.19REDSTAREX up 4.68% to close at N3.8, BUACEMENT up 1.60% to close at N41.4
Top losers
NEIMETH down 9.91% to close at N2.09,CILEASING down 9.38% to close at N4.35,FLOURMILL down 6.68% to close at N19.55ARDOVA down 4.51% to close at N13.75,MTNN down 0.86% to close at N115.
Outlook
Buacement rallied the bulls to pause the bearish steep fall, led by MTN and FLOURMILL. Nairametrics envisage you consult a certified Investment Advisor, as market fundamentals shows strengthening concerns by institutional investors
