Equities Trading Sheds N10b as Investors Take Profit

By Modupe Gbadeyanka

The Nigerian Stock Exchange (NSE) on Tuesday ended on a negative note as end of the earnings season draws closer.

The bearish sentiment was mainly influenced by the renewed profit taking by investors, leaving the market to close 0.08 percent lower yesterday with the year-to-date loss finishing at 13.27 percent.

Taking a look at the major market indicators, it was observed that the All-Share Index (ASI) depreciated by 28.19 basis points to settle at 33,167.88 basis points, while the market capitalisation reduced by N10.3 billion to end at N12.109 trillion.

During the trading session on Tuesday, a total of 24 equities depreciated in value with only 17 stocks recording price appreciation.

Seplat posted the highest price loss after shedding N29.40k of its value to quote at N615.50k per share.

Zenith Bank trailed with a decline of 75 kobo to close at N23.70k per share, and Lafarge, which also reduced by 75 kobo to end at N17.50k per share.

Furthermore, FBN Holdings lost 75 kobo to settle at N8.25k per share, while Dangote Flour depressed by 70 kobo to finish at N6.65k per share.

On the other hand, Presco led the price gainers’ chart after improving by N5 to close at N58 per share.

Stanbic IBTC increased its value by N3.50k to end at N52.50k per share, while Dangote Cement appreciated by N3.50k to finish at N216 per share.

Mobil Oil Nigeria garnered N1.50k yesterday to stay at N176.50k per share, while Nigerian Breweries raked 50 kobo to settle at N88 per share.

On the activity chart, the volume and value of transactions recorded on Tuesday increased by 105.41 percent and 108.36 percent respectively.

While the volume of trades grew from 309.2 million shares to 150.5 million shares, the value went up to N6 billion from N2.9 billion.

GTBank emerged as the most traded equity at the stock market on Tuesday, trading 57.6 million units worth N2.2 billion.

Sterling Bank exchanged 57 million units valued at N88.3 million, while FCMB sold 41.1 million shares for N63.7 million.

Custodian Investment transacted 25.9 million equities worth N129.7 million, while FBN Holdings exchanged 12.2 million shares for N106.5 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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