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Investors Lose N29b On NSE As 20 Stocks Fall


By Modupe Gbadeyanka

Equities at the Nigerian Stock Exchange (NSE) on Tuesday finished in the red zone, leaving the market to sink further by 0.34 percent.

The all-share index fell by 84.99 points to close at 25,233.42 points, while the market capitalisation dropped by NN29.3 billion, ending at N8.69 trillion.

However, the number of shares sold today went up by 309 million to finish at 511.6 million valued at N1.7 billion traded in 2,342 deals.

Business Post correspondent reports that a total of 20 equities depreciated at the stock market on Tuesday compared to 13 stocks which went up and 8 which remained unchanged.

The declining stocks were led by Forte Oil, falling by N5.81k to close at N53.85k per share, while Dangote Cement dropped by N1.99k to end at N158 per share. Also, Transcorp Hotel declined by 27k to finish at N5.24k per share, Dangote Sugar sank by 20k to close at N6 per share and Oando depreciated by 19k to end at N3.61k per share.

At the other end, Mobil led the gainers’ chart with a leap of N22.48k to close at N241.89k per share, Total rose by N9.40k to finish at N254.85k per share, Nigerian Breweries picked N1.99k to end at N143 per share, International Breweries jumped by 29k to finish at N18.99k per share, while UPL increased by 19k to close at N4.9k per share.

Investors staked N181.3 million on 356.2 million shares to emerge the most traded equities on the floor of the NSE on Tuesday, while Diamond Bank came second with 63.6 million shares sold valued at N57.5 million.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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