Equities Investors Lose N140.5b as 19 Stocks Fall

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By Modupe Gbadeyanka

Negative sentiments continued on the floor of the Nigerian Stock Exchange (NSE) on Tuesday, resulting in investors losing N140.5 billion at the close of transactions.

The All-Share Index (ASI) depreciated by 407.46 points to close at 34,951.27 points, while the market capitalisation lost N140.5 billion to settle at N12 trillion.

As the Central Bank of Nigeria (CBN) announced outcome of its Monetary Policy Committee (MPC) meeting today, leaving the key rates unchanged, the stock market, according to our correspondent, ended 1.15 percent lower on profit-taking, trimming the year-to-date to 30.05 percent.

However, the volume and value of shares transacted on Tuesday by investors increased significantly.

At the close of trading activities, investors exchanged a total of 500.3 million shares worth N3.6 billion compared with 107.2 million units sold yesterday at N1.4 billion.

Continental Reinsurance was investors’ toast today, exchanging 190.5 shares valued at N333.3 million.

Sterling Bank followed with 83.3 million units traded at N80.8 million, while Access Bank transacted 51 million shares worth N492 million.

Axa Mansard sold 30 million shares worth N60.2 million at the market on Tuesday, while Transcorp traded 18.9 million shares valued at N24 million.

Business Post reports that the market breadth closed negative today with 19 losers and 16 gainers.

Presco led the gainers’ chart with N1.94k growth to settle at N59 per share, and was closely followed by NASCON, which rose by 60k to finish at N13.10k per share.

Unilever advanced by 19k to end at N44.29k per share, Oando gained 19k to close at N5.99k per share, and Zenith Bank moved up by 11k to expand to N22.12k per share.

On the flip side, Nestle suffered N19.70k loss to settle at N1205.30k per share, and was trailed by Dangote Cement, which went down by N7 to end at N206 per share.

International Breweries fell by N1.87k to close at N35.68k per share, Nigerian Breweries depreciated by N1 to finish at N167 per share, and Dangote Sugar crashed by 10k to wrap the day at N13.70k per share.

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