Nigeria’s equities market furthered its losing streak on Tuesday by 1.58 percent as more investors chose to sell down their holdings despite bargain hunting opportunities across key sectors on the Bourse.

Topmost on the sell side of the Bourse are stocks like Seplat Energy Plc, BUA Foods Plc, Northern Nigeria Flour Mills Plc, Eterna Plc and Nahco Plc.

The share price of Seplat Energy Plc recorded the highest decline from N1419.90 to N1300, losing N119.90 or 8.44percent.

BUA Foods Plc also made the top laggards list after its share price moved down from N59.95 to N54, losing N5.95 or 9.92percent.

Read also: Equities market closes further south

Related News

It was followed by Northern Nigeria Flour Mills Plc which decreased from N8.60 to N7.75, down by 85kobo or 9.88 percent.

The market which took off this week on a negative note saw its All-Share Index (ASI) and capitalisation decrease further from preceding day highs of 49,346.4 points and N26.615trillion respectively to 48,554.76 points and N26.188trillion.

Investors lost about N427billion at the close of trading session on Tuesday. The market’s positive return year-to-date (YtD) also decreased to 13.70percent.

In 3,533 deals, investors exchanged 204,153,067 shares valued at N3.183billion. Mutual Benefit, Zenith Bank, FBN Holdings, Access Holdings and UBA were top-5 traded stocks on the Nigerian Exchange Limited (NGX).

More from our Markets Column
Read Next

FMDQ Exchange grows market turnover to N19.76trn

By Iheanyi Nwachukwu • August 24, 2022

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.

Join BusinessDay whatsapp Channel, to stay up to date

Open In Whatsapp