The Nigerian Stock Exchange closed on a negative note on Tuesday 8th October 2019 as key market growth indices continue bleeding. The NSE All-Share Index (ASI) dropped by 56.49 basis points or -0.21% to close at 26,809.92 bais points. The NSEASI Year-to-Date currently stands at -14.70%.

The bearish run on Tuesday was as a result of major sell-off in large and medium scales stocks as the market recorded 12 price losers for the day. MTN Nigeria, Guinness Plc, Dangote Sugar, Dangote Flour and Champion Plc immensely contributed to the bearish trend on Tuesday. They declined by -1.15%, -122%, -2.86%, -0.67% and -9.57%.

The Nigerian Stock Exchange Market Breadth closed positive for the day. NASCON Allied Industries Plc led 14 gainers while Champion Plc topped 12 losers for the day.

Financial Metrics Nigeria reports that the NSE Market Capitalization dips by N27.5 billion to close at N13.05 trillion.

A total number of 185.94 million shares units were traded on the floor of the exchange market in 3,083 deals worth N2.54 billion.

Zenith Bank Plc was investors' haven for the day as the lender traded heavily. The lender led the top three traded stocks by volume and value. Zenith Bank sold 60.92 million shares units worth N1.10 billion. First City Monument Bank Plc traded 37.34 million shares units valued at N59.74 million.

Guaranty Trust Bank Plc completed the top three traded stocks by volume. The lender transacted 27.89 million shares units worth N744.38 million.

NASCON Allied Industries Plc was the best performing stock for the day. The stock appreciated by 10% to close at N14.85. NPF Microfinance Bank was up by 9.09% to close at N1.20.

Forte Oil completed the top three gainers for the day. The stock advanced by 6.08% to close at N15.70.

On the flip side, Champion Brewery Plc was the worst-performing stock for the day. The stock declined by -9.57% to close at N1.04. Courtville Business Solutions Plc depreciated by -9.09% to close at 20 Kobo. Learn Africa Plc rounded up the top three losers chart for the day. The stock went down by -8.93% to close at N1.02.

Source: https://financialmetricsnigeria.com/investors-lose-n27-5bn-as-buhari-presents-2020-budget/

Cc: Lalasticala, Mynd44, Dominique, and MissyB3.