Nigerian stock market All-Share Index slips down 0.11% on Tuesday

The bears maintained control over the Nigerian stock market as the NGX All Share Index decreased by 0.11% to settle at 104,663.34 points. Despite gains in FBNH (+9.06%), UBA (+1.57%), and FLOURMILL (+3.57%), continued selloffs in telco heavyweight, MTNN (-3.03%), alongside TRANSPOWER (-0.03%) and GTCO (-1.71%), resulted in a slip of 39.83% in year-to-date (YTD) return. The market capitalization also dropped by ₦62.21bn to close at ₦59.12trn.

Trade turnover decreased compared to the previous session, with the value of transactions down by 29.69%. A total of 307.01m shares valued at ₦7.59bn were traded in 9,548 deals. FBNH (+9.06%) led both the volume and value chart with 37.81m units traded in deals worth ₦1.57bn. Market breadth ended positively with advancing issues outnumbering declining ones at a ratio of 1.09-to-1. INTENEGINS (+10.00%) led twenty-four (24) others on the leader’s table, while DAARCOMM (-9.86%) was among the twenty-two (22) laggards.