Na wah o! Nigerian stock market don show us pepper as e close lower for Tuesday, wey be say na profit-taking wey dey happen for banking stocks come cause am. E don spoil the nice rally wey dem dey enjoy for days.
According to data wey we get from NGX, the All-Share Index drop from 190,262.44 on Monday come down to 189,362.94, wey be 0.47 per cent decline. As market capitalisation still follow come down from N122.13tn to N121.55tn, dem waz still dey sell; no be small!
But you know say no be only banking stocks dey collect wetin dem no plan for. Trading activity no slack as e show say una dey enter market well well—dem say the number of deals don jump 34.82 per cent to 86,697 transactions, and the volume wey dem trade increase by 12.93 per cent, land for 1.19 billion units. But wetin go dey worry una be say total transaction value don reduce by 4.44 per cent, now wey dem estimate na N60.19bn.
The NGX Banking Index, na the sector wey suffer pass, decline reach 3.69 per cent. Major banks no gree rest as dem dey bleed: Zenith Bank Plc plummet by 10.00 per cent, United Bank for Africa Plc drop 6.56 per cent, Access Holdings Plc dey down 4.63 per cent, and Guaranty Trust Holding Company Plc don fall by 2.33 per cent. Na wah!
Meanwhile, no be all of dem dey cry; you sabi say the NGX Consumer Goods Index rise from 4,328.43 to 4,438.58. E show say food and household products dey sell well as people dey buy. BUA Foods Plc dey shine as e don rise 5.77 per cent; Nestlé Nigeria Plc don gain 2.47 per cent; Unilever Nigeria Plc don up by 3.63 per cent; and Cadbury Nigeria Plc dey rise steady by 1.47 per cent. E be like say we go chop well this month!
Now, the NGX Industrial Index don ease small by 0.50 per cent, as Dangote Cement Plc collect minor gain wey be 0.16 per cent, while Lafarge Africa Plc come dey decline 4.04 per cent. The insurance sector na different story as the NGX Insurance Index also drop from 1,338.63 to 1,330.94—a -0.57 per cent decline. E get some insurance companies wey dey shine like FTG Insurance Plc wey don rise 9.52 per cent, but no forget say AXA Mansard Insurance Plc come dey fall by 8.77 per cent. Na wah o!
For the Oil & Gas Index, e don almost flat, close for 3,928.51, compare to 3,930.91 wey e dey before. Eterna Plc manage japa, don go up 3.23 per cent, but Aradel Holdings Plc no gree follow; e dey fall small by 0.25 per cent.
Overall, Tuesday trading session show say wahala dey different for different sectors. While consumer goods dey shine, the banking sector dey through rough road. Abeg, make we dey watch as stories dey unfold for the market. Naija no go ever dull!
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