Sell-offs in Dangote Cement, MTN, drive NGX All-Share Index down by 1.81% on Tuesday


Bearish sentiment drove the domestic bourse on Tuesday as the NGX All-Share Index closed 1.81 percent lower – the biggest single day loss since 19 October – to settle at 43,466.93 points.

Sell-offs in DANGCEM (-8.33%) and MTNN (-2.04%) underpinned the market’s weak performance. Consequently, the year-to-date (YTD) return fell to 1.76 percent, while the market capitalization shed N436.43bn to close at N23.68tn.

Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up 16.97 percent. A total of 249.91m shares valued at N2.50bn were exchanged in 3,283 deals. ACCESSCORP (+0.00%) led the volume and value charts with 128.73m units traded in deals worth N1.03bn.

Market breadth closed negative at a 1.90-to-1 ratio with declining issues outnumbering advancing ones. GUINNESS (-9.95%) topped eighteen (18) others on the laggard’s table, while UNITYBNK (+10.00%) led nine (9) others on the laggard’s log.