The equities section of the Nigerian Stock Exchange closed on a negative note on Tuesday, as major indicators recorded marginal losses.
Specifically, the market capitalisation of the listed equities shed 0.01 per cent or N2bn to close at N10.576tn, down from N10.578tn the preceding day.
In the same vein, the NSE All-Share Index lost 0.01 per cent or 3.76 basis points to close at 33,086.29 points, down from 33,090.05 the previous day.
The NSE-30 Index also lost 0.20 points or 0.01 per cent from 1,580.41 points to 1,580.21 points while the Consumer Goods Index lost 0.51 basis points to close at 964.32 points, from 964.83 points recorded on Monday.
However, the NSE Banking Index recorded marginal appreciation, rising by 0.4 per cent or 1.58 basis points from 387.16 points to 388.74 points.
The banking sub-sector maintained its lead on the activity chart, as it accounted for 45 per cent of trading activities on Tuesday.
In the sub-sector, investors exchanged 141.541 million shares, worth N1.556bn in 2,104 deals.
Volume in the sub-sector was driven by trading in the shares of Zenith Bank Plc, Unity Bank Plc, Access Bank Plc and Guaranty Trust Bank Plc.
The insurance sub-sector followed on the activity chart, accounting for 21 per cent of total volume traded on Tuesday.
A total of 67.246 million shares worth N39.74m were exchanged by investors in 195 transactions.
Turnover in the sub-sector was driven by trading in the shares of Niger Insurance Company Plc, which accounted for 56 per cent of the sub-sector’s volume.
Other stocks that drove turnover in the sub-sector were NEM Insurance Company Plc, Sovereign Trust Insurance Plc and Prestige Assurance Plc.
In all, investors exchanged 316.091 million shares, valued at N3.999bn in 5,203 transactions, compared to 317.66 million shares, worth N3.438bn traded the previous day, in 4,682 deals.
Source: Punch (by Udeme Ekwere)