By Dipo Olowookere
For the seventh consecutive trading session, the Nigerian Stock Exchange (NSE) recorded a loss on Tuesday, going down by 0.13 per cent on the back of sustained profit-taking.
This battered the All-Share Index (ASI) by 45.15 points to 41,510.16 points from 41,564.31 points and weakened the market capitalisation by N28 billion to N21.716 trillion from N21.744 trillion.
Business Post reports that the level of transactions yesterday was mixed as the value of traded stocks rose by 49.66 per cent to N4.0 billion from N2.6 billion, while the volume of traded shares decreased by 10.10 per cent to 305.9 million units from 340.3 million units, with the number of deals declining by 5.37 per cent to 4,969 deals from 5,251 deals.
The most active stock on Tuesday was FBN Holdings as it traded 47.8 million units valued at N351.1 million and was trailed by Guinness Nigeria, which transacted 37.3 million units worth N732.3 million.
RT Briscoe exchanged 26.8 million equities for N5.9 million, Zenith Bank traded 25.1 million shares worth N651.0 million, while Sterling Bank transacted 20.0 million stocks valued at N38.2 million.
Unlike the previous sessions, the market breadth was at equilibrium with the same number of price losers and gainers (23 apiece).
On top of the losers’ chart was Northern Nigerian Flour Mills, which lost 86 kobo to sell at N7.79 per unit and was followed by NEM Insurance, which fell by 23 kobo to settle at N2.27 per share.
Japaul declined by 7 kobo to finish at 72 kobo per unit, Niger Insurance depreciated by 2 kobo to close at 20 kobo per share, while Multiverse also dropped 2 kobo to sell for 24 kobo per unit.
On the flip side, Champion Breweries topped the gainers’ table with a price appreciation of 25 kobo to quote at N2.75 per share, Linkage Assurance gained 6 kobo to finish at 66 kobo per unit, Morison moved up by 5 koko to 55 kobo per share, Wema Bank gained 5 kobo to trade at 70 kobo per unit, while RT Briscoe appreciated by 2 kobo to finish at 22 kobo per share.
