Equity market declines by N169bn

Equity market declines by N169bn

nigeria stock exchange ……..As investors trade shares worth N4.536bn

Investors on Tuesday traded 376.947 million shares worth N4.536 billion in 4018 deals.

This is against 1.724 billion shares cost N3.678 billion in exchanged hands the previous day in 3251 deals.

Market capitalisation of listed equities declined by N169 billion to N11.353 trillion from N11.522 trillion reported the previous day.

The NSE All Share Index also went down by 304.92 basis points to 30226.77 from 30226.77 traded on Monday.

A review of the transactions during the day showed that Dangote Cement industry led gainers table, increasing by N2 to close at N193.00, Dangote Sugar Refinery Plc followed with a gain of N0.80 kobo to close at N15.00, Ikeja Hotel added N0.20 kobo to close at N2.26 kobo, Stanbic IBTC grew by N0.80 kobo to close at N46.25 kobo while NEM Insurance appreciated by N0.11 kobo to close at N2.33 kobo.

Nestle Nigeria Plc on the contrary, recorded the highest loss during the day, dropping by N50.00 to close at N1400.00, Betaglass trailed with a loss of N6.45 kobo to close at N58.35 kobo, Nigerian Breweries Plc fell by N6.10 kobo to close at N56.90 kobo, Unilever Nigeria Plc dropped by N3.30 kobo to close at N35.70 kobo while Forte Oil sheds N2.75 kobo to close at N24.95 kobo.

Further review showed that FCMB group was the most active stock during the day, exchanging 53.884 million shares worth N99.957 million, Sterling Bank followed with account of 41.401 million shares valued at N99.218 million, United Bank for Africa traded 41.327 million shares valued at N316.911 million, Fidelity Bank traded 37.651 million shares cost N66.331 million while Zenith Bank sold 31.987 million shares worth N694.170 million.

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