Nigerian Stock Market Records Four Price Gainers Tuesday

Stock Market Newspaper

By Dipo Olowookere

A total of four equities appreciated in price at the Nigerian Stock Exchange (NSE) on Tuesday as investors embarked on massive selloffs.

NPF Microfinance Bank, which topped the advancers’ chart yesterday, added 10 kobo to its share value to close at N1.25 per unit.

Omoluabi Mortgage Bank appreciated by 5 kobo to sell at 60 kobo per share, Learn Africa gained 2 kobo to trade at 97 kobo each, while LASACO garnered one kobo to quote at 25 kobo per share.

On the flip side, 27 stocks closed lower on Tuesday and GTBank was the heaviest price loser, shedding N1.55 to sell at N18.35 per unit.

Julius Berger declined by N1.15 to quote at N25.80 per share, Zenith Bank lost N1.10 to settle at N13.05 per share, Lafarge Africa depreciated by N1.05 to N10.35 per unit, while Seplat decreased by 60 kobo to N494.40 per share.

Business Post observed that all the five key sub-sectors of the market bled yesterday, with the banking index losing 5.75 percent.

The insurance counter lost 1.45 percent, the energy index declined by 1.25 percent, the industrial goods index decreased by 0.88 percent, while the consumer goods sector went down by 0.10 percent.

At the close of transactions, the All-Share Index (ASI) reduced by 290.49 points to 22,629.92 points from 22,920.41 points, while the market capitalisation went down by N151 billion to N11.794 trillion from N11.945 trillion.

The activity level was down yesterday as the transaction volume and value depreciated by 27.53 percent and 44.74 percent respectively.

A total of 250.3 million shares worth N2.3 billion were traded in 4,877 deals on Tuesday compared with the 345.4 million shares worth N4.2 billion transacted in 4,930 deals on Monday.

FBN Holdings was the most traded stock yesterday, exchanging 71.1 million units valued at N298.7 million, while Zenith Bank transacted 52.2 million shares for N695.0 million.

GTBank traded 24.4 million equities worth N451.9 million, UBA exchanged 15.2 million stocks for N85.9 million, while Fidelity Bank sold 13.3 million shares valued at N23.0 million.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

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