Equities Halt 9-Day Gaining Streak with N131b Loss

By Modupe Gbadeyanka

For the first time in 10 days, the Nigerian Stock Exchange (NSE) finished in the red territory, depleting by 1.16 percent.

The All-Share Index (ASI) depreciated by 378 points to end at 32,200.38 points, while the market capitalisation declined by N130.7 billion to close at N11.132 trillion.

Business Post reports that at the stock market on Tuesday, investors embarked on profit-taking, though their confidence in the market still remain firm.

It was gathered that the market breadth closed positive with 38 equities rising in price against 21 stocks which depreciated in value.

The year-to-date return settled today at 19.82 percent.

A total of 745 million shares exchanged hands on the floor of the NSE today executed in 7,841 deals valued at N6.5 billion.

Seplat gained N17.50k to close for the day at N367.50k per share, while Nestle advanced by N10 to finish at N965 per share.

Seven-Up moved up by N2.8k to end at N92.12k per share, Lafarge increased by N2 to settle at N53 per share and Flour Mill improved by N1.21k to close at N26.72k per share.

At the other end, Mobil depressed by N31.16k to end at N288.56k per share and Dangote Cement declined by N10.50k to finish at N199.50k per share.

Unilever depreciated by N1.70k to close at N35.79k per share, ConOil sank by N1.67k to finish at N39.50k per share, while Mansard slumped by 11k to end at N2.37k per share.

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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