Local stock market closes flat despite robust activity

Share trading at the Nigerian Exchange Limited (NGX) closed flat on Tuesday to end the previous day’s loss.

Specifically, the benchmark gained 0.0034% to fix the All-Share-Index (ASI) at 49,627.72 basis points, from its previous close of 49,626.05 basis points.

The neutral stock market exit kept both the monthly and yearly performance of the All-Share Index at -0.42% and 16.18% respectively.

Investors therefore gained 1 billion naira as the market capitalization followed ASI’s direction to stand at 26.768 trillion naira, an increase of 0.0034% from 26.767 trillion naira at the end. from the previous trading session.

However, the bears side maintained their dominance over the entire market with 16 counters in the losers’ board against 13 counters in the winners’ board.

Multiverse gained 9.69% to become the session’s best performing stock, flanked by NPF Microfinance Bank, Pharmadeko, Cutix and Fidelity Bank, which filled out the top five gainer chart. From the back of the table Red Star Express, Caverton, Livestock, Sovereign Insurance and Lasaco Insurance filled the top five losers table.

All sector indices closed opposite the ASI except for NGX Lotus Islam and NGX Industry which gained 0.04% and 0.14% respectively, while NGX Oil&Gas, NGX Growth and NGX ASEM closed flat.

Market activity, measured by both volume and value of trades, improved during the session, with daily traded volume standing at 160.244 million units, an increase of 85 .05% compared to the volume of 86.594 million units traded in the previous session.

The value of these traded shares increased by 27.17% during the session to 1.488 billion naira from a value of 1.170 billion naira recorded in the previous trading session.

Zenith Bank as the top traded stock by volume for the trading session, followed by Courtvilee, Transcorp, Intenegins and Chams to complete the list of top five most traded stocks by volume.

In terms of the value of shares traded, Zenith Bank took the lead in the top five performers. It is flanked by MTN Nigeria, Guaranty Trust Holding Company, Airtel Africa and Access Corporation.

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