Nigeria: Stocks Trading Indices Drop By 0.19%

Nigeria: Stocks Trading Indices Drop By 0.19%

Trading on the Nigerian Stock Exchange (NSE) reversed to negative on Tuesday with the market indicators dropping by 0.19 per cent, amid profit taking in Stanbic IBTC and Nigerian Breweries.

Specifically, the All-Share Index lost 75.32 points or 0.19 per cent to close at 40,494.35 from 40,571.67 recorded on Monday.

Consequently, the month-to-date loss increased to 4.5 per cent, while the year-to-date gain moderated to 0.60 per cent.

In the same vein, the market capitalisation which opened at N21.224 trillion shed N40 billion or 0.19 per cent to close at N21.184tr.

The loss was driven by price depreciation in large and medium capitalised stocks amongst which are; Cornerstone Insurance, UPDC Real Estate Investment Trust, Consolidated Hallmark Insurance, Prestige Assurance and Wapic Insurance.

Cornerstone Insurance and UPDC Real Estate Investment Trust led the losers’ chart in percentage terms, dropping 10 per cent each to close at 54k and N5.40 per share, respectively. (NAN)

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