By Bamidele Famoofo
WorldStage– Investors on the Nigerian bourse lost N1.40 billion of their investments on Tuesday as year to Date return dropped to 27.89 %.
Market capitalization depreciated by 1.07% to ₦127.75 trillion, representing a ₦1.40 billion loss in investors’ funds.
The Nigerian equities market closed lower, as sustained profit-taking dragged the All-Share Index down by 107 basis points to 199,014.02 points, with sell-side pressure outweighing mild buying interest.
The market was pressured by profit-taking in GTCO, NB, MTNN, WEMABANK, ZENITHBANK, STERLINGNG, and UBA, including 16 other stocks.
Sectoral performance was broadly negative, with three of the five tracked indices closing in the red. The Banking, Consumer Goods, and Insurance indices declined by 2.02%, 1.13%, and 0.16% respectively, driven by losses in GTCO, WEMABANK, ZENITHBANK, UBA, NB, INTBREW, CONHALLPLC, INTENEGINS, AIICO, and WAPIC.
Conversely, the Oil/Gas and Industrial Goods indices posted gains of 0.31% and 0.17%, supported by advances in OANDO, BERGER, WAPCO, and CUTIX.
The market breadth, which measures investor sentiment through the Gainers/Losers ratio, increased to 1.87x from 0.82x as 43 stocks appreciated, 23 stocks depreciated, and 66 stocks closed flat.
