Markets
Nigerian equity market dips 0.19%
The bullish run of the Nigerian equity market was halted on Tuesday as the All share Index fell by 0.19% to close at 51,805.41 points. The year-to-date return of the market Indices dipped to 21.28%, despite the Exchange printing a higher number of gainers (36) than losers (13).
Specifically, the share prices of Capitalization tickers such as NAHCO, WEMABANK, MTNN, NB and AIICO fell by 4.12%, 3.73%, 3.61%, 2.53%, and 1.32%.respectively amid profit taking activities.
However, performance across sub-sector gauges was bullish as the NGX Insurance Index, NGX Consumer Goods index, NGX Oil/Gas and the NGX Industrial index rose by 2.14%, 0.78%, 0.97% and 0.06% respectively while the NGX Banking index fell by 0.06%.
Meanwhile, market activity came in weak on Tuesday as the volume and value of stocks traded fell by 1.79% and 9.34% to 331.52 million and N 5.04 billion respectively.
Elsewhere, Both NIBOR and NITTY moved in mixed directions across tenor buckets tracked. In the OTC bonds market, the values of the FGN bonds appreciated across most maturities tracked amid renewed bullish sentiment.
On the flip side, the values of FGN Eurobond depreciated for most maturities tracked on sustained sell pressure.
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