More
    HomeBusinessNigerian Stock Market closed Tuesday in red, down 0.3% 

    Nigerian Stock Market closed Tuesday in red, down 0.3% 

    Published on

    By Francis Ekeh

    The Nigerian equity market closed Tuesday’s trading session on a bearish note as the NGX benchmark index declined by 0.3% to close at 48,879.7 points. Consequently, the Year-to-date (YTD) return of the market weakened to 14.4% from 14.7% the previous trading day.

    Top gainers in Tuesday’s trading session were led by MULTIVERSE (+9.8%), RTBRISCOE (+8.8%) and NGXGROUP (+7.5%).

    However, INTBREW (-9.1%), REDSTAREX (-7.8%) and SOVRENINS (-7.4%) posted biggest losers.

    The total volume and value traded declined by 51.4% and 36.1% respectively to 173.4mn unit and ₦2.4bn.

    On the sectoral breakdown, performance was majorly bearish as three indices with exception to marginal growth rate in Industrial Goods index and a 0.4% increase in Consumer Goods index.

    This is accredited to gains in AIICO (+5.8%) and WAPIC (+2.9%). 

    Meanwhile, the Banking, Consumer Goods and Oil and Gas indices possessed a bearish performance, down 2.6%, 0.4% and 0.3% respectively.

    Operators attribute their losses to investors’ selloffs in FIDELITYBK (-4.9%), INTBREW (-9.1%),  and OANDO (-2.1%) respectively. 

    It will be recalled that the Nigerian Exchange Group (NGXGROUP), one of the top gainers in Tuesday’s trading session, finished its fiscal year 2020 with a 23.9% decrease in revenue year-on-year, with ₦3.7bn, as opposed to the ₦5.0bn recorded in the previous year.

    Markey analysts also observed a percentage decrease in other years as well (2016-2020), with the exception of 2017 and 2019, when their revenue increased by 129.8% and 2.7%, respectively, from ₦2.6bn in 2016 to ₦5.9bn in 2017 and ₦4.8bn in 2018 to ₦5.0bn in 2019.

    Latest articles

    You’ve no contract to fix Kwara Hotel, Court tells MM’s Crystal Group

    Says govt bears no liability for unsigned agreement By Olufemi Oni, Ilorin An Ilorin...

    UNILORIN to Graduate 12,042 Students, with 256 First Class

    By Olufemi Oni, Ilorin The University of Ilorin (UNILORIN) is set to graduate 12,042 students...

    Court Adjourns N2 Billion Suit Against Nigerian Army Over Okuama Killings to November 28

    Aaior K. Comfort A Federal High Court in Abuja has postponed a N2 billion fundamental...

    South-South APC Condemns Suspension of Minister Heineken Lokpobiri as “Envious and Wicked”

    Aaior K. Comfort The South-South Zonal Legal Adviser of the All Progressives Congress (APC), Chukwuemeke...

    More like this

    You’ve no contract to fix Kwara Hotel, Court tells MM’s Crystal Group

    Says govt bears no liability for unsigned agreement By Olufemi Oni, Ilorin An Ilorin...

    UNILORIN to Graduate 12,042 Students, with 256 First Class

    By Olufemi Oni, Ilorin The University of Ilorin (UNILORIN) is set to graduate 12,042 students...

    Court Adjourns N2 Billion Suit Against Nigerian Army Over Okuama Killings to November 28

    Aaior K. Comfort A Federal High Court in Abuja has postponed a N2 billion fundamental...