Nigeria Equity Market Further Down by 0.75% as Investors Lose N72b

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By Modupe Gbadeyanka

The Nigerian Stock Exchange (NSE) further finished in the red zone on Tuesday, closing 0.75 percent lower, thereby trimming the year-to-date return to 31.71 percent.

Also, the market breadth ended negative with 28 laggards and 18 advancers as investors continued with profit taking.

However, the volume of transactions and market turnover increased today with a total of 373.5 million shares worth N5.8 billion transacted at the market in 4,193 deals in contrast to 114.8 million shares traded yesterday in 3,232 deals valued at N2.2 billion.

Business Post reports that at the close of trading activities on Tuesday, Diamond Bank emerged the most active stock, exchanging 130.7 million shares valued at N150.6 million.

It was closely followed by GTBank, which traded 50.2 million shares worth N1.9 billion, and Zenith Bank, which transacted 39.3 million shares valued at N900 million.

FBN Holdings traded 23 million shares at N132.8 million, while Meyer exchanged 15 million shares worth N10.5 million.

Seplat was today’s highest gainer, increasing by N22.89k to finish at N480.79k per share.

It was trailed by Okomu Oil, which rose by N2.99k to settle at N62.89k per share, and International Breweries, which progressed by N2.43k to finish at N38 per share.

Unilever advanced by N2 to end at N42 per share, while Stanbic IBTC grew by N1.95k to wrap the day at N41.20k per share.

On the flip side, Nestle led the losers’ chart after going down by N59.80k to settle at N1150.20k per share.

In addition, Nigerian Breweries lost N4.45k to close at N180.5k per share, while Lafarge slumped by N2.1k to finish at N50.99k per share.

Furthermore, Flour Mills of Nigeria depreciated by N1.45k to close at N27.55k per share, and Dangote Cement declined by N1 to end at N209 per share.

Our correspondent reports that the All-Share Index (ASI) shed 267.42 points to settle at 35,397.52 points, while the market capitalisation declined by N92.2 billion to close at N12.2 trillion.

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