Nigeria’s stock market closed southwards on Tuesday July 27 as investors expectedly moved to take profit after recent gains.
At the close of trading, the market recorded 20 gainers led by Oando Plc (+43kobo or 9.86percent) as against 21 losers led by UPDC REIT (-40kobo or 6.67percent).
The market had recorded remarkable gains in previous trading sessions as investors positioned ahead of interim dividend. Many investors moved into the Bourse to cherry pick value stocks across different sectors, particularly those known for paying interim dividends.
The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation decreased on Tuesday by 0.12percent or N24billion from 38,849.08 points and N20.240trillion respectively to 38,802.15 points and N20.216trillion.
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The market’s negative return year-to-date (YtD) increased to -3.65percent. This month, the market has increased by 2.36percent, while it has rallied by 0.35percent.
Access Bank, Wema Bank, UPDC REIT, UACN and UBA Plc were actively traded stocks Tuesday on the Nigerian Exchange Limited. In 4,326 deals, investors exchanged 243,086,071 units valued at N1.899billion.
