NIGERIAN STOCKS FALLS AS TINUBU BECOMES PRESIDENT- ELECT

 The Nigerian Exchange Ltd. (NGX) equities market's five-day winning run came to an end as performance indicators fell 0.53 percent as a result of stock sell-offs in medium- and large-capitalized companies.

Compared to the N30.4 trillion recorded on Tuesday, the market capitalization decreased by N162 billion, or 0.53 percent, to settle at N30.238 trillion.

The All-Share Index (ASI), which peaked at 55,806.26 in the previous session, dropped by 297.65 points to settle at 55,508.61.

The decline was brought on by selloffs, particularly in telco heavyweight Airtel Africa and other companies. The year-to-date return thus decreased to 8.31%.

The ratio of gainers to losers indicates that the market is still experiencing positive feelings. While market breadth continues to be positive, we anticipate profit-taking in a few specific equities that have risen in recent sessions, according to analysts at Vetiva Securities Ltd.

Also, with 24 stocks on the gainer's table and 10 on the losers', the market breadth concluded in positive territory. Veritas Kapital Assurance, which closed at $22,000 per share, was the top gainer on the percentage gainers' table. Wema Bank increased by 8.75%, and Ardova closed at N18.55 with a gain of 9.76%.

The Iniative rose 8.33 per cent to close at 52k, while Geregu Powers appreciated by 8.20 per cent to close at N298.10, per share. On the other hand, John Holt led the losers’ chart in percentage terms by 6.66 per cent to close at N1.59, per share. 

Ecobank Transnational Incorporated (ETI) followed with 7.69 per cent to close at N12, while Airtel Africa dropped by 5.25 to close at N1,535, per share. 

Although FTN Cocoa Processors lost 3.45 percent to settle at 28k per share, United Capital lost 3.91 percent to close at 14.75. The number of units traded climbed by 36.73% to 228.49 million, valued at N4.44 billion, and swapped in 3,6 transactions. Capital Hotel share transactions, totaling 333.24 million shares valued at N2.33 billion, topped the list of activities.

Transcorp traded next with 44.89 million shares worth N67 million and 46.63 million shares worth N126 billion from Guaranty Trust Holding Company (GTCO).

Access Holdings traded 19.42 million shares for N186.21 million, while Oando traded 19.98 million shares worth N102.33 million.